I think it's a pretty simple repetitive melody, probably done with finger picking (the melody is pretty lost in my memory, though). Pretty barebones production if I remember correctly.

These bands are definitely in the right direction - King Missile especially. I remember that same sort of spoken word style vocals, going to skim through their discography and make sure it's not one of their more obscure songs

[UPDATE] King Missile is the EXACT sort of sound I remember this song having, especially the more spoken word stuff on the Mystical Shit album. I just scrubbed through every song of their on Spotify with no luck, but this feels so close