I don't understand why stories involving puppets always have to be so exaggerated. But I do see what they were going for—it’s not really about the puppets themselves, but about the people behind them. The storylines and characters are fairly typical, a familiar combination; however, that seems almost intentional. It presents something recognizable, only amplified in unpleasantness – and with a surprising degree of candor. Regarding whether it's "particularly funny," I didn’t find it to my liking. But you know, humor is subjective. Others might find it hilarious. I wasn't familiar with Melissa McCarthy’s work previously; but it seems this style of comedy suits her well; and if that appeals to you, then maybe we have very different senses of humor. (That sort of comedic approach.)

Source on TMDB