He was pretty serious for the most part because, well, jokes just aren't the same without a live audience. I watched Tom Hanks a few weeks ago on Saturday Night Live (Tom Hanks would be the
only reason I would ever turn that crap fest on) and it was just … difficult. I know he wanted to be funny, but it just doesn't work without the audience.
Craig Federighi is usually a laugh-a-minute kind of guy, and I think he knew full well it wasn't gonna work, so he limited it to the getting high portion of the naming spiel.