There are five people sitting round a table talking about stuff. Why are they all wearing headphones and why do they all have with great big microphones in front of them?
It's always been first and foremost a show broadcast on Radio 4. As with most shows nowadays it's now also recorded / filmed so that it can also be released as both an audio and visual podcast (which is why it's shown on BBC news as a filler segment).
It did look like they were pretending it was a radio show. But you don't need headphones and huge microphones for a studio setup; it just looked rather silly. And the orange background reminded me of Channel 9 from the Fast Show!
