I saw this yesterday. I was very vocal in a different thread about this potentially being a surprise and begging folks to give it a shot before prematurely judging it. I'm sorry.
As many others have already stated, the show itself is poorly cobbled together. The scoring is sometimes fine, sometimes utterly jarring and even laughable (seriously, that scene near the end of act one where Kong flies through a Windows PC screensaver circa 1998 to a random techno song was hysterically stupid). The book is weak. Perfect's songs are generic at best, grating at worst.
Pitts had only one level and one emotion. The puppet seriously emoted more than she did in her book scenes. McOnie's direction is almost not even there. I liked the choreography at first, until it was repeated ad nauseum and during scenes where it made no sense to have choreography, especially awkward bicycle lifts.
That dang puppet though. It's incredible. Even from the mid-mezzanine I got every eyebrow raise, nostril flare, frown, and head tilt. It was amazing. As much of a disappointment as the show is, I would probably pay just to see the puppet again. Someone above mentioned that it should have been a play with a score rather than a musical, and I think that would have made it much better. The sung parts take you right out of the show, considering their disparate styles and the fact that they don't move the plot along (or make much sense, in the case of that pressure song). Leave the number in act two where Carl is planning the stage show, add more underscoring, take out everything else, and develop the book a little more, and this could have been better.
The whole time I kept thinking, "There's no way in hell this version is better than whatever Jason Robert Brown and Marsha Normal came up with." That to me is the most confusing part of this whole show and why I was originally hoping people would give it a chance; it's been in development for so long, gone through so many iterations and creative teams and labs and workshops and full productions, and this is what they arrived at as the best version, the one that should open on Broadway? How does that happen?