Stephen Colbert has a quote that goes, "Isn't an agnostic just an atheist without balls?". I'd retort that isn't a polemic pundit hiding behind the label of "comedian", just a bigot without balls? It's kinda like Josef Mengele claiming he was just an anthropologist. Colbert is famous for parlaying a mocking character on The Daily Show, into a low rating show called the Colbert Report, where he was a sock puppet for the DNC, and pretends to be a conservative commentator by mocking all their positions in straw man form (e.g. reducing all their points to an extreme that he could more easily handle than the truth). With low ratings, hyper-partisan bias, and an embarassingly uninformed audience, he was the perfect choice for taking over The Late Show from another un-funny DNC sock-puppet (who had sex with most of his female staff), David Letterman. Colbert has exceeded Letterman by being every bit as unfunny, nasty, and small minded as his predecessor.
Assuming "you are what you do" (and we are all the sum of our action), here's some of the things Colbert should be known for:
- 2018.07.25 - God is a socialist - Colbert exposes his bias nightly. On this night he admitted he was a socialist, likes the dim-witted Ocasio Cortez, and thinks God is a socialist. If that man was made in God's image, then God is moron. 
- 2018.06.06 - #MeToo Do-over -- after serial sex offender Bill Clinton, fucked up on the Today show, by admitting he'd never apologized to Monica Lewinski for his abuse of power -- Colbert had him on to try to do a do-over and revise the historical record. Colbert coached, cajoled and helped Clinton along (who only had days to prepare for the puff-piece interview), all while Bill lied on camera... saying that Today had taken him out of context and omitted the part where Bill admitting he'd already apologized. Today responded that Clinton was lying and to rewatch the unedited tape. Colbert never made a correction or retraction or felt shame for being a facilitator of the lie. But it is not like his audience would know better, or care. 
- 2018.06.05 - Cake rights: A man tried to have his life destroyed for the high crime of not wanting to do custom design work for a gay wedding. (He agreed to sell off the shelf cakes, so it was never about not-serving Gay's -- it was just his "art" was not for sale to a cause that was against his religion). This got taken to the Supreme Court, where the guy won because the government had been so abusive and partisan as to violate his legal rights and protections. Colbert doesn't inform his audience of context or legalities, he mocked the baker as a sex-obsessed fanatic (and the Supreme Court for protecting his civil liberties), for daring to have religious beliefs that disagreed with Colbert. 
Who knew that a man who made his career misrepresenting the other side (and history/facts) and mocking his straw man of their views, and who took over for a comedian who did the same, on a network with a long embarrassing history of bias (in their programming and newscasters), might have a divisive bias? This is FoxNews all over again. As ABC, NBC, CBS, CNN, CNBC, MSNBC all varied from left to far left "News"... Roger Ailes and Murdoch figured out that appealing to the forgotten middle and right might have some untapped and viewers. And boom,they became and stayed the #1 cable news for 20+ years. And the far left hates them, not because they're any more biased or wrong than the other channels, (they're all equally bad at their jobs), but because they offer the public a much needed counterbalance to the DNC and thinkprogress spin you get in AP/NYT/CBS that people can see on every other channel.
I suspect the competitors will clean CBS's clock, for the same reasons that Carson and Leno cleaned Lettermans clock: nasty partisan bias is only funny to one side. Jackie Gleason telling a Jewish joke can be funny, or Sammy Davis telling a black joke can be funny, but a white supremacist telling the same jokes, is not. (Mocking yourself or everyone is humor. Hating on someone you don't like or understand, is just being a cry-bully). Colbert has a double standard that immediately makes his schtick less funny, to those who value fairness.