Conversation so far:
How did Algonquin Round Table's No Sirree! come about?
Given the activities of the Round Table members, it was inevitable that they would write and stage their own revue. No Sirree!, staged for one night only in April 1922.
Who of Algonquin Round Table said no sirree first?
Was No Sirree! a success?
The only noted item to emerge from No Sirree! was Robert Benchley's contribution, The Treasurer's Report. Benchley's parody delighted those in attendance that Irving Berlin hired Benchley in 1923.
Did Algonquin Round Table duplicicate No Sirree! ?
With the success of No Sirree! the Round Tablers duplicated it with an official Vicious Circle production open to the public with material performed by professional actors.

Question: why was it a failure?
Self-contained rewrite: Why was the duplicate No Sirree! a failure?