Calypso's story served to teach Bluey that even bad luck can result in good luck and vice-versa. This teaching can be seen throughout the episode.
After Frisky and Rad have an argument about whether or not Frisky will move in with Rad away from Queensland, the former decides to call off the wedding. This caused Rad to reflect on the importance his relationship with Frisky for him and decide to move back to Queensland instead and get a new job.
When there's no space for her at the backseat of the car, Bluey gets sad because she thinks she will have to stay home, but that allows her to be able to ride in the front seat for the first time in her life.
Chilli is pulled over by the police regarding Bluey riding in the front seat. However, after that issue was resolved and they explain why Bluey was in the front, the policeman reveals that he had passed a speeding ticket to Frisky at her favorite juice shop not long ago, causing them to go there.
At the juice shop, Chilli and the girls miss Frisky by a hair, as a truck was blocking the latter's car from their line of sight and Bluey finding a coin distracted them from seeing her getting out of the restroom. However, not only did Bluey find a coin, but the girls also got juice.
Later on, the fact that Bluey found a coin gives the girls a chance to use the binoculars at the look-out. Muffin puts the coin in the wrong slot and causes it to get stuck, this prevented the girls from using the binoculars. However, that allowed the Sheepdogs that were buying the Heelers' house to use them later on and see Cornelius putting his house for sale. Since his house is exactly what they wanted, due to having a pool, they decide to call off the sale. After being informed of this, Bandit decides to not sell the house.
Muffin spills her juice on the car, forcing Chilli to pull over to clean it. However, that allows them to finally find Frisky driving her car, allowing them to finally follow it.
As they are following Frisky, Chilli is forced to pull over again so that Socks can use the toilet due to the juice she drank. However, that led for Bingo to see the Ulysses Butterfly from the episode "Slide".
The butterfly then enters the car as the girls are getting in for them to resume their pursuit of Frisky, scaring Muffin and Socks and forcing Chilli to pull over again so the butterfly could get out. However, this allowed Chilli to see the look-out sign that led her to realize where Frisky was.
After Bingo came to realize the true meaning of selling the house, she gets very sad. But Bluey, remembering Calypso's story, tells it to Bingo in order to cheer her up.
Butterflies often represent change, or death and rebirth, or can even be a portent of misfortune. Flappy (as Bingo named him) represents all the above. He represent Change: Rad and Frisky getting married, Brandi getting pregnant. He symbolized Misfortune: the wedding nearly being called off, the Runaway Bride, all the trouble Chili went to find her. And, in a metaphorical way, he signifies Death and Rebirth: the Heeler's grieving process over losing their house, and then their reborn appreciation for their home once the deal falls through.
Back in "Slide", Bingo and Lila saved the life of a tiny caterpillar, who in turn grew to be a butterfly (which they named Flappy). In this episode, Flappy got in the car and set off a chain of events where Chili would go to the Lookout Point and find Frisky. If that hadn't happened, the girls wouldn't have put the penny in the binoculars that allowed the Sheepdog Couple to see Cornelius's house and change their minds about buying the Heelers' home. In other words, Lila and Bingo set off the Butterfly Effect.
On the face of it, Stripe messed things up by blurting out how Rad was going to move him and Frisky out West without her consent, setting off the events where Frisky becomes a Runaway Bride. But wait, if it hadn't been for that, it wouldn't have set off the chain of events where Bluey and Bingo found the penny and later it in the binoculars at the Lookout Point. And the Sheepdog Couple wouldn't have found other options in Winton's vacant house. Although Stripe's words caused one misfortune, they unwittingly helped the Heelers avoid a terrible mistake.
Back in "Ghostbasket", it's clear the girls were using the game where Janet and Rita's house was being sold as a way to cope with their house being sold in real life. Notably, Bluey's character is taking it personally while Bingo's character is business as usual. This was clearly meant to foreshadow how Bingo was only taking it so well because she had yet to grasp the concept of moving.
Fridge Brilliance for observant long-time viewers; the episode that introduces Lila shows a series of photographs of her and Bingo growing up and finally graduating together. Many thus cited it in their belief that the Heeler family would be staying put, especially once the episode mentioned they'd be moving cities. When Bingo even realizes that selling the house means they can't live there anymore, she immediately asks if Lila will be coming with them (to which the answer is obviously no). Sure enough, in the literal last few seconds before the Heelers leave, as Bingo and Bluey and Chili are loaded in the car and Bandit is about to get in, the phone rings and Bucky's picture is shown. The sale has fallen through, and Bandit, after a moment's reflection staring at the sign, rips it from the ground, thus signaling his decision to stay put. The rest of the episode is pure joy as the Heelers get out of the car, celebrate, and return inside the home.
It's worth noting that, although moving is a painful process for the family, no one is put in the wrong. The adults are simply just as lost as the children about the whole thing.
What's more, while there is Moving Angst, the story low-key makes a point that moving can also be a good thing for someone else, simultaneously proving Calypso's point about how bad luck can beget good luck. Winton sees it as a unhappy "ending" that his parents got divorced, no argument there. But something good came out of it, for both him and Bluey. Yes his Mom and Dad are divorced, but his Dad found new love in the Terriers' Mom and moved in with her, meaning Winton's family becomes bigger for it. Meanwhile, because Cornelius and Winton moved out of their home, it left it vacant for the Sheepdog Couple, who changed their minds and decided they'd rather have a house with a pool in it. So because someone moved (namely Winton and his father), something good did come out of moving.
The Arc Words for the entire episode are "we'll see." From the very beginning, the Sheepdogs are referred to as "the dogs who can't see" because of their fringe. In the end, in the only moment we see their eyes, they use binoculars to "see" the house of their dreams, resulting in a happy ending for both families.
For four families, in fact, since Winton's Dad moving in with the Terriers' Mum means that their families are happy too!
A line from Frisky's outburst to Rad on the phone sticks:
Frisky:DON'T tell me how to feel!
While it can easily be interpreted that Frisky is understandably upset that Rad made plans without informing her, it could simultaneously mean something else. It's worth noting that Frisky was once in a relationship with Bosco (whom she thought was her true love) that ended in a break-up... Could it be that he was the type of boyfriend to try to manipulate how she should feel?
If that were to be the case, Frisky immediately telling Chilli that she's only moving because Bandit is telling her to (which is not true, of course) when Chilli admits she does not want to could have a deeper meaning beyond just her reacting about her current situation.
Notice where Bingo is sitting when the house is completely empty. She's sitting right where her bed used to be. Ouch!
It's a bit ambiguous what Chilli means when she says:
Chilli: Frisky and I used to come up here as teenagers to— umm... Think.
Some have interpreted what she might mean when remembering another word that rhymes with "think" that she probably doesn't want to say in front of the children. Guess Chilli knows how to have fun with both of her sisters-in-law.
Confirmed by Joe Brumm to be one of the series' many references to The Simpsons.
With that in mind, it is a little concerning that Chilli and Frisky did this when they were teenagers. Yet again, 18-19 is of legal age in Australia and is still considered a teenage age.
