Seen first 2 'episodes' and agree with most on here that its laughter-light and badly executed. It supposed to be a cultural divide/fish out of water story about precious British writers with a hit show about a posh boarding school being taken to the States.
Of course they're going to change it because it's for a completely different audience. We do the same with substandard versions of their series. If they were developing a contemporary UK sitcom instead it might have worked a little better. And if they have a BAFTA winning show why don't they just walk out? In reality, I don't think Gervais/Merchant for example would be so naive. Or they would step back and let the money roll in.