It actually comes across as very late 80's and early 90's meta humor of "we're going to do the corny thing that you expect, but we're going to acknowledge its cheap and corny, so it's fine! Not to mention punching down jokes on the audience, which also feels very late 80's/early 90's edgelordy. Haha, that guy in a Goofy mask is actually just an ugly woman! Such wit and cleverness!
MV3D was a product of its time. I'd even say slightly ahead of its time. But over 3 decades later, it feels definitely rooted in the past and a little cringe.