Red Hook ESB has an IBU rating of 28 (or so... the consensus on the internet). IBU stands for International Bitterness Units and is an analysis of the bitter hop Alpha Acids dissolved into the beer during the boil phase of its production. A rating of 28 is moderate. For comparison, Budweiser regular is 11 to 12 IBU and Ruination (by Stone Brewing) is about 100 IBU. The 28 IBU in Red Hook ESB is about as high a bitterness as I would recommend for cooking, and, seeing that is diluted 40% with water, it should make for an interesting flavor contribution without contributing too much bitterness.
Red Hook ESB has an alcohol percentage by 5.8 ABV (Alcohol By Volume as opposed to ABW Alcohol By Weight) which puts it into the standard strength beer category on the upper end of the scale. Plenty low enough not to interfere with the Baker's Yeast (which can handle up to 12%).
Red Hook ESB is usually moderately priced as craft beer goes but is not considered one of the finer brews. Actually Red Hook is owned by Anheuser Busch and the Widmer brothers who together have a 50.2% stake in the brewery. This removes the company from the realm of "Craft Brewery" to many beer connoisseurs. The beer is considered a "gateway" craft beer in the snob circles, one which introduces people to flavorful beer without being too strongly flavored in any one characteristic. It is readily available in most areas because of A.B.'s distribution system.
Now that that's out of the way... its an interesting selection for pizza, as drinking the beer with pizza would be one of my recommendations. I personally prefer a lager with pizza, such as Grolsch, Pilsner Urquell, Staropramen, or a German pills like Warsteiner. My second choice would be a pale ale such as Sierra Nevada, Bell's Two Hearted, Sweetwater 420, etc. I would not, however recommend any of these beers for making the dough, they are all too bitter. So if one wanted a beer to make the dough with and drink with the pizza...Red Hook would actually work well.
I think it would be a cool hook to serve the same beer with the pizza as it was made from. It would be a neat special at a pizzeria to order a pizza made with beer and get the same beer at one price (10 inch Red Hook pizza with one topping and a Red Hook ESB for $8.99).