Crosses the Line Twice: The depiction of a live-action drag race where the driver knocks the race car on its side? Brutal. SpongeBob romanticizing it as what getting his driver's license would entail? Hilarious.
Epileptic Trees: When did SpongeBob's dream actually start? Everything up to him writing "The" had to be real, since it's still on the paper when he wakes up, but everything afterwards becomes blurry. From the audience's perspective, things start seeming off when Patrick says that SpongeBob is using him as a distraction, but from SpongeBob's perspective, things don't start seeming weird until the mailman questions him, which came after SpongeBob started choking on the eraser shavings.
Broken Base: Ask any fan what they think of the episode. Some people will say that it's one of the funniest episodes in the series, while others will say it's one of the worst episodes from the pre-movie era due to Patrick's Insufferable Imbecile behavior towards SpongeBob.
With The Reveal that Janet and Marty aren't actually Patrick's parents, the episode accurately predicted the Twist Ending to The Visit 15 years later.
Janet and Marty turned out to be Patrick's fake parents. Then, Herb and Margie technically turned out to be his fake parents, thanks to the creation of Bunny and Cecil for The Patrick Star Show two decades later (or vice versa, depending on how you see it).