On his NYTimes NFL blog, Stuart Elliot calls the Pepsi MacGruber ads "one of the most audacious plays in the history of product placement."
This would be true if the product were being placed in the SNL sketch. However, when the 3 spots ran during this week's SNL, they were not within the show but rather separate commercials featuring SNL actors designed to trick viewers into thinking they were watching a fake SNL ad.
It's still fairly egregious that Lorne Michaels allowed the show's characters to be co-opted by Pepsi, but it is not product placement. Watch the one that aired during the game below.