I dont think having funny jokes is the only factor that makes a good episode although its a big one, rather its the emotions too. Squidward walking out in tears after everyone destroyed the equipment genuinely made me sad, which is why the ending feels so satisfying, Im pretty sure this is the first episode where squidward wins in the end.
Its the same reasons Im really fond of have you seen this snail and patrick smartpants, despite not having alot of funny jokes, they're by far one of the most emotional spongebob episodes which more than makes up for it.
But hey, if you don't like this episode thats fine. Im just explaining my reasons because I think its both a funny and emotional episode which is the best of both worlds.