And I was so excited!...
Until I watched the first one. Honestly it's as though they bought the name and then completely ignored everything about what made MST3K great. They used a similar structure (man kidnapped and forced to watch bad movies) and seemed to think that was the important part. The jokes, however, were lame and at most got a chuckle out of me for the 30 minutes I forced myself to sit through before I had to turn it off.
MST3K wasn't just making fun of a movie, but noticing things in the movie others may miss and using cultural references to mock the movie.
The new one had a flying Tom Servo that flew up and kissed some guy on the screen. Bravo for intelligent humor guys. Oh, and completely unimportant, but the voices for Crowe and Tom Servo sounded almost identical. I understand it's not the same guys, but at least find distinctive voices for people that will be mostly represented by a shadow!
I switched to a random Rifftrax (by the guys who DID make MST3K) on Amazon and laughed more during the opening credits than the entire half hour I suffered through on Netflix.
So, watch Rifftrax on Amazon. Don't bother with the new Netflix MST3K.