I'm not joking actually. Murdoc pretends to be a some famous French playwright and tricks a theater owner into premiering one of his musicals-- a musical that stars MacGyver's friend Penny Parker. I guess he assumed MacGyver might attend the premiere. It's a really inefficient way to get revenge.
I had never before considered that Murdoch intentionally created the play to be so utterly horrible as a secondary means of hurting Macgyver through association.