AFAIK, this is a random collection of Flying Circus skits translated to German. The skits themselves are good, the translation mediocre, sometimes outright bad and lacking (subbing in for a scot with a german from the Ruhrpott just doesn't do it). What's the worst part, though, is that mediocre or completely talentless german comedians do their bits in between. I won't even go into their "qualities".
To sum it up: Watch this, if you haven't access to any other Python stuff. Otherwise, avoid it.