As far as spoofs go, this one wasn't all that Mad Men specific. The only actual character in it was Don, and he said far more in these 2 minutes than he generally says in any given one hour episode.
On the other hand, the take-off on the opening credits with the silhouette slipping on a banana peel was genius, and you have to give props to a kids' show that features the line, "Good work, sycophants." Also "Watch the suit."
All in all, just goes to show that Muppets are awesome.