ironically legitimate. implies that the subject is actually laughably full of sh-t, but that there is a reason to keep a straight face and pretend that it is not.
fox news defines crumulent journalism today.

(note: because the colbert report is satirising legitimacy, it cannot be crumulent, but can only pretend to be crumulent.)
1 more definition
synonym with ok, all right, fine.
managerial is a perfectly crumulent word.

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