It's not high art and I don't think it has a deep message or anything, but what it was for me was simple: it was fun. The show was fun, the actors seemed to be having a great time (especially Grace and Carolee!), and the score is pretty memorable ("Man's Man", "Beauty Has a Price", and the title song have been stuck in my head since I went). Ultimately, that's the biggest reason I go to a musical (outside of something like Parade): I want to lose myself in something for a couple hours, feel like I had a good time, and have something to whistle while desperately trying to get a cab.
I do agree the book is kind of a mess, but for the price of admission, I was just glad to have a couple hours of campy, pretty-to-look-at fun. If you don't think too hard about it and let yourself simply enjoy being at the theatre, it's well worth it.
I will say that in terms of the performances, both Grace and Carolee absolutely stole the show for me. The chemistry between those two during their number together is just off the charts.