Credit to Gunn for pulling something like this off, which I'm pretty sure isn't as easy as one might think.
This was of course inspired and/or influenced by the Star Wars Holiday Special, a truly terrible piece of television that has become iconic in so-bad-it's-good fashion.
Here, Gunn had to embrace the cheesiness of that special, without turning it into a straight parody, and somehow making it both good and stupid simultaneously.
He pulled off something that is an homage, is silly at times, but knows that it's silly and still delivers satisfying story and music elements.