I'm also confused as to who the target audience is.
As for my Steve Lawrence reference, The number can be appreciated without making that specific association. The number satirizes the kind of 60s, smooth, "hey there" Vegas performer of days go by. I think most people would find it amusing even if they couldn't quite articulate the historical context.
Your question about target audience is a big one. I suspect they are aiming for not just family friendly, but specifically tween girls. Much is made of what a hero Betty is to the teen in the show. The teen character even claims Betty is her surrogate family, although we've seem little evidence to justify that. Betty sings a number about what a hero the teen is to her, so it's a mutual admiration society. None of this is particularly believable.
The second act opens with a big number about how NYC has gone Betty crazy and I guess she becomes some kind of social media star. Again, it doesn't develop into anything.