Catharsis Factor: Squidward getting brutally injured by the cash register and missing out on his worker's comp is quite satisfying given what a massive jerk he was to SpongeBob throughout the episode.
Critical Backlash: While still remaining one of the most infamous episodes in the show's history, there exists a rather vocal subset of fans who argue that it's not as horrid as most make it out to be, saying that there are a large amount of genuinely good jokes that are masqueraded by the disgusting imagery, especially during the first half.
Fridge Brilliance: Of course Mr. Krabs could get the splinter out with complete ease; a pair of tweezers are the best means to grab a tiny bit of wood. And Krabs' claws are natural tweezers.
Nausea Fuel: This episode is certainly one that should not be watched by people with weak stomachs or are planning to eat. The icing on the cake is when Mr. Krabs pulls out the splinter, and is greeted by a stream of confetti... and then a long stream of pus.