The show is 90% voice-over
American Playboy is an unusual mix of documentary and biopic (kind of like the movie American Splendor, save for any discernible creative rationale). It devotes some time to archival footage and talking heads -- a combination of new and old interviews -- with Hugh Hefner, his family, former colleagues, plus some more surprising figures, like Brett Ratner and Jesse Jackson.
The rest of the series is made up of dramatized reenactments of Hef's story, starring Matt Whelan as the entrepreneur. The weird thing about the latter piece of the equation is that it's delivered almost entirely beneath Whelan's voice-over, with actors exchanging dialogue only occasionally, and otherwise wading silently through scenes.