There's no fucking punchline, they're literally just recapping the premise of the show through a modern-era country song with hip-hop influences (the worst legacy of Old Town Road) and occasionally saying something about South Korea not being America. I hate it
SNL had a golden period with the Not Ready For Prime Time Players in the 70s, another in the 80s with Eddie Murphy & co., and one in the 90s with Norm Macdonald's generation.
Ever since then? Nothing. Name anyone who's on SNL today. None of us can.