Here he hammers that home:
On television, Colbert is often funny. But on his own show he appeals to a self-selected audience that reminds him often of his greatness.
See- the President is a regular guy who is set-upon all the time by guys that insult him but Colbert is out of touch because of the hand-picked audience that does nothing but suck-up to his greatness.
Cohen, being rich and powerful, can't conceive that he himself is out of touch so how could we expect him to conceive that the most powerful man in the world is oblivious to the greater world around him?