I feel like I have to pre-empt this review by saying that Merrily We Roll Along is not only my favorite two-act musical but among my favorite pieces of media period, but at this point that would be like starting a review with "disclaimer: I breath air, eat food, and drink water" since I'm terminally incapable of shutting up about it.
Initially, I really liked this--the first scene is beat-for-beat pretty much the same as the opening scene for the musical, and the scene with Julia Glenn (Mary Flynn) and Jonathan Crale (Charley Kringas) confirmed to me that I am in love with Charley no matter what. He had me ready to propose when he said that he got arrested for beating up a cop at a worker's strike. King <3. I think, though, that my biggest issue with the show is that the dynamic of Julia, Richard, and Jonathan is not given anywhere near the stage time as the dynamic between Mary, Frank, and Charley and therefore their falling out is nowhere near as tragic.
For example, the play's equivalent to "Franklin Shepard, Inc." is Jonathan painting a caricature of Richard and publishing it to a paper but it happens off-stage and is only ever referenced. Contrast to the musical, where we have a scene where we can see the tensions between Frank and Charley slowly rising when it's revealed that Frank signed a three-picture deal and is postponing Take a Left yet again mere moments before the interview begins and Charley tries to hold himself together until he can no longer and publicly eviscerates Frank on live TV. I understand that the setting of this being in the 20s and 30s instead of the 60s and 70s means that that could not have happened in the same way, but the stakes just felt lower here. Likewise, while Mary is one of Frank's oldest friends and the two met when he was still a starving artist, Julia is a devoted Richard Niles fangirl introduced to him after a hit or two by Jonathan, which really makes their friendship less compelling to me since instead of it being a struggling writer seeing her composer friend be corrupted by fame and greed, it's a fan watching her favorite celebrity do so.
Weirdly, this play both makes Richard seem more and less sympathetic--more in the sense that when Althea (Gussie) comes over and says that she divorced Harry (Joe) for him, she gets a call saying that Harry has committed suicide, so Richard staying behind to comfort her instead of going out with Julia and Jonathan is way more justifiable than Frank staying behind with Gussie since Joe does not kill himself, but less in the sense that we never get to know Richard in the way we get to know Frank. This is in part due to there not being any songs, so Growing Up and Our Time or even his struggles as a composer in Opening Doors aren't seen at all, but also because a lot of pivotal moments for Frank simply don't exist for Richard: Frank encountering his son Frankie outside the courthouse and then begging K.T. to delete the photo of Frankie reaching out to him, Frank making Charley sing Good Thing Going at the party, Frank and Gussie talking at her first party, Frank and Charley's disastrous interview, his shotgun marriage to Beth, and even him watching Sputnik with Charley, Mary, and Evelyn are nonexistent. There were a weird amount of scenes focusing much more heavily on side characters of little to no importance, which can work in a show, but whenever we'd have a scene where most of it is taken up by Helen's parents or random girls in the restaurant I was just like "this time could be used on the main three!" since I know how compelling they can be!
The ending of the show also had none of the impact of the ending of the musical since instead of Our Time, it was a scene with Richard and Helen, newly together after World War One's end followed by Richard's valedictorian speech and it just...doesn't have the bittersweet melancholia-ladden magic of seeing the three characters we know end up the way they do watching what the think is the start of a new world and swearing that they can do anything.
That said, I really liked the relationship between Althea and her mother since it added some depth to her character and I love Jonathan Crale with my whole heart, as well as Helen telling Richard that he should have married Jonathan if he loves him so much, which is sort of like Good Thing Going if you squint. I think what this really comes down to is that Merrily We Roll Along is not a "why?" musical and is in fact a story that was much improved by Sondheim and Furth.