. . . and think 'thank goodness we're not quite that bad'

But they are that bad. And worse. And have been for 30 odd years. That's the tragedy.
The mantra is still "professionalism bad, amateurishness good".
No, it isn't.
I can't read Lawrence Heath's mind, though I'd be very surprised if he was endorsing such smugness and self-satisfaction.
I'm much more inclined to believe that Frank's alter ego was hoping people might recognise something of themselves and work for improvement by following his real-life example instead.
If many more had, the musbiz wouldn't be in such a terminal mess.
Dick's right in identifying Borfolk as "predictable", still worse, it's self-perpetuating.
That's what's not so much funny as scary about it.