In business terms, this kind of thing is seen as a good product without a real use. A mistake to make, because however great you make it, you just can't sell it. There really is little point in making a show so few people want to watch, even less point in trying so hard to make it brilliant. The vast majority of people obviously don't care for the subject, 'star', or style, or all three.
And I wonder if it really is as good as some are saying. Just glancing at the taglines for episodes makes me wince - 'Simon sends up his lack of acting ability in storyline about starring in a play.' How opportunistic and self indulgent is that? And it doesn't ring true, who would want to cast him as a lead character in a play, knowing he can't act?
When the fame hungry Amstell first formulated this bad idea of a sitcom about himself, he forgot to do simple research on whether people really wanted to see such a thing. He needs to get away from himself and his mirror.