Lorne Michaels, the creator of SNL, whilst making his mark on television, has ALWAYS been a huge snob, catering to almost solely top tier Comedy, Movie and Music stars as hosts for the first 40 years of the show, he's only just recently in the last decade been feathering in Television stars, mostly due to the advent of streaming and movie people working more in a television format. Michaels probably doesn't see Weird Al for the brilliance Yankovic always possessed and produced.
It is so wild to me that someone in the comedy business didn't have weird al in s-tier celebs. When it is considered an honor to have someone "make fun" of you, that's a good guest star!
And he is just awesome all around, always respectful. Long live Weird Al! đ€
Al would probably spend the first year making his guests host the show and interview him, but he is just impossible to get info out of and keeps redirecting the conversation to the hosts "side projects"