It was a great episode. I've found SNL to be very cyclical with respect to my funny bone. I started watching back in 91 when I came to the U.S., but that included many re-runs on a new channel called "Comedy Central" that launched that year, which started off by showing SNL for 24 hours straight. That was the Dana Carvey/Mike Meyers/Phil Hartman/Adam Sandler, etc. era.
Then it became stale, then it became really, really bad (again, for me) in the Will Ferrell era (except for the occasional exception, like when Alec Baldwin hosted, or the cowbell sketch). During that time was also my least favorite Weekend Update host too. Then it became better, and then it became so good that i remember enjoying myself every week with only one exception for a couple of seasons. This was during the Tina Fey/Jimmy Fallon, etc. era, and the one exception still sticks out in my mind because it was the worst show I'd seen since the Will Ferrell era, and it was when Donald Trump hosted the show. I didn't find a single sketch that week funny, and that started a downhill slide again for the show.
I've never really stopped watching since 91 though. Even when the show was its absolute worst (again, for me, since humor can be very subjective at times) during the Will Ferrell/Christ Catan/Norm McDonald phase, I still tuned in weekly to at least see if they'd gotten better yet.