I'd definitely watch this show faithfully. Some would argue that dark and cynical characters have no place in children television, however, I'd strongly disagree. There truly are kids who do think similarly to Booksy Bear (though maybe not in big words like "society", etc) that are seeking relatable characters and solutions to the social problems they face. Most currently produced cartoons, each dumber than the last, can not provide that. Booksy Bear could.
I'd say the show is like "Animaniacs", but with a more down-to-earth, relatable protagonist. It has enough loony, random action (items appearing out of nowhere, characters and objects falling etc) to keep the younger viewers interested, and brilliant psychological jokes and metahumor for ages 10+. As an adult, I loved every one of these meta jokes, but I feel like there should have been even more of them in the episode, especially during Chippy's rescue. I'd almost want to hear the bear talking to himself constantly, like, throughout the entire thing, just saying out loud whatever he's thinking. Now that would surely make the show stand out from everything else that's on TV.
The story of this particular episode felt a bit generic and cliché: protagonist doesn't want to be friends with a character - villain captures the character - protagonist saves him, they become friends. But that is not really a problem for a pilot episode, where the main goal is to properly introduce all the relevant characters, which was done rather well.
I did not care much for the villain in this episode, but I believe he has potential, if given more complex schemes, or if more of his friends/family members are introduced. If not, you could just focus on Chippy trying to integrate Booksy into society, show him the meaning of friendship, that stuff is fun and adorable, with endless possibilities for comedy.