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I used to be in a band, and we didn't rehearse very much. When people came up to us saying it sounded a bit ropey we would tell them that was part of the act. Are Stew is very much just doing the same thing.
The interesting part is that he's very deliberately self aware about it, and plays on it in the act. I think part of him is rather cynically exploiting the "metropolitan liberal elite" who keep coming to see him, and he directly attacks his snobbish audience during this show.
He all but admits he's sinmply putting on an act Guardian reading ponces will enjoy in order to pay his mortgage, and thanks to the way he's cultivated the image, even being so blasé about it does him no harm.