If you look closely at the Pesukim, as the עגל happens, Hashem – being omnipotent – knows what is happening, but Moshe knows nothing. When they do the עבירה and say אלה אלהיך ישראל אשר העלוך מארץ מצרים, Hashem doesn’t tell Moshe anything. It is only the next day when they sit down to eat and drink and, as the Pasuk says, ויקמו לצחק, the got up to laugh – which connotes the three cardinal sins, that Hashem had a problem and told Moshe he needed to go down and remediate the issue. This supports what we’ve said elsewhere that Hashem is not intimidated of our עבירות. As long as we have our heads on straight, even if we do a huge עבירה, the caliber of the עגל, we can fix anything. It’s when we lose our heads that the issues start.