After last week's very disappointing pilot, I think this episode was certainly an improvement.
It was entirely saved by the Gracen, Leila and Marmaduke story of the lost ring to be actually quite amusing at times. Everything else I was so indifferent to that I have difficulty now remembering what happened.
However, I think in that family they have a few characters worthy of pulling a few stories out of. Marmaduke is an odd enough character to maybe extract a couple of episodes, and with some clever writing maybe they can get some more out of the family collectively.
Laird is a common sitcom character so I guess he has a few episodes in him. Otherwise I can't really see this show going much further than that.