It's not a Bojack Christmas Special, it's mainly a Horsin' Around Christmas Special. For context it's interesting to see what a full episode would have looked like, but as we already saw the catchphrases in regular episodes there's actually not much more to it.
The Todd and Bojack conversation around is kinda useless. Let's say the best part are the audience's stupid comments.
Shout by Andrew BloomVIP 9BlockedParent2015-09-12T13:24:48Z
"Sabrina's Christmas Wish" is a pitch perfect parody of the TGIF sitcoms the show takes aim at. Devoting an entire episode to BoJack's old sitcom is a bit of a gamble, and in truth, sometimes the parody is a little too accurate to how those shows went without enough of a subversive angle to keep you interested, but the frame story of Todd and BoJack watching it keeps it fun and light, and details like the guy in the audience yelling "kiss her" or the not so subtle bleakness-beneath-the-cheer ending add enough to keep you laughing with the episode, not at it. Quality X-mas special.
(By the way, I love the Dynamic between Todd and BoJack here. I'm a sucker for Bert-and-Ernie-esque friendships between the chipper and the grumpy. See also: Spongebob and Squidward.)