Well ep 1 was just a funny episode with plenty of gags and references.
The backside ep 1 which showed what happened while Jil was knocked cold was still a gag episode, but it pretty much stayed 'within the game'.
Episode 2 was a great deal more serious, but still had a few light hearted moments. The tone can't really be called the same as a fantasy epic, it's still pretty clear that the show is based on a game.
At this point in time I haven't any idea whether they'll actually have any episodes based in the real world. I don't think they will, to be honest.
Oh that reminds me. Ep 3 is out. Yay.