Hilarious. Not only are the actors super funny in their roles-- especially the ones playing Ana and Christian-- but they have great voices, too, and the music is unexpectedly terrific. There's a good balance between ridiculous and slapstick humor, and truly clever jabs at how screwed-up the story is. Whoever wrote this also did a great job in framing the story as a housewives' book club reading 50 Shades, which makes it much more engaging than just a straight-up parody of the book. But just to be clear, it's not only about the book club-- most of the play is scenes from the book being acted out with biting satirical humor.
Yes, it's low-budget in the extreme, but in my opinion that made it funnier. Yes, the seats are just random chairs and not very comfortable. The ticket price is pretty high given those things, but the play was funny enough that I didn't care. I also found the staff to be friendly and laid-back. It was a fun night!