If you read US trades like Deadline, this is the most exciting thing ever.
If you live in the UK, you basically don't know anything about it. (SNL has never been big here).
Anyway, the UK cast has just been announced, and I only know three of them - two from appearances on Taskmaster. To be honest, going on Taskmaster is 100% the way comedians currently break through in the UK.
The other thing mentioned in this announcement is that there are only initially going to be six episodes. That feels incredibly weak for a show like this. How on earth are they going to create a habit with so few episodes. Sure, our sitcoms are only 6 episodes, but for panel shows, you'd always get at least 10 episodes, and that's what I'd expect from this. If not more.
Adam