Yes, it does have some content that has been recycled from various other shows but that's the name of the game. Much of it is given the "Ozzy Touch" to make it acceptable to the greater audience at large. I don't watch it religiously but I do enjoy it from time to time depending what's running against it. Rove McManus is a likable bloke with quite a deal of charisma without being totally silly like Conan or predictable like Dave & Jay can sometimes be. It caters well for local taste. Considering that the show has helped Rove get a few "Gold Logie" awards, i'd say that it's been successful! Anyway, it IS funny at times.
Tell Your Friends