I... don't know! I didn't hate it. I enjoyed it, but it didn't make me laugh much.
Then again, it took me a couple of episodes to really get into the Boosh, so maybe it will grow on me. idk though! Even in the Boosh my favourite parts were never the most surreal bits -- I like the rude jokes, but mainly the interactions between characters (dialogue & banter, especially), and there wasn't much of that in Luxury Comedy. It was mainly monologues by silly characters. I kind of think that Noel's comedy works best when bounced off someone else (even if it's just the audience, like in his standup which I loved), so the monologue to camera bits don't really do it for me, if that makes sense.
Dondylion was really fucking depressing -- it really upset me! Apparently he'll be a recurring character, seriously not sure I can cope with more of him. D: But that sketch had the only line that made me laugh out loud: "I asked for quavers!"
I did enjoy the New York Cop, partly because of the terribad accents, and for the arguments between the two gashes (god that sounds wrong!). Liked the weird seashell man dancing to Holmes. XD Not sold on the cooking show or on the chocolate finger PE teacher. 'Noel' in the hut is basically Vince, which I found oddly comforting. Also, the Moon! I was spoiled for his appearance because of Tumblr, but I don't know if it was a good idea to put him in there... it just made me long for more Boosh. >.>
I'll definitely watch the entire series no matter what, though. Maybe then I'll have a final verdict.