I only used to watch this show because it came on after Entourage. If it had come on before Entourage or on some other night, I probably would have passed. But now, I can say that this series has legs with which to stand on thanks to this episode.
One of the series' strong points is the chemistry between Bret and Jermaine, and Bret's abandonment certainly tests that relationship. In a funny twist, the same thing happens to the two muggers; one is abandoned by the other when the police come. The irony is played upon when Jermaine and the mugger become friends.
Another major component to the series is the music, which was superb in this episode. "Think About It" was especially hilarious.
This episode is important because it shows Conchords has its own merits, and is not just the show that's on after Entourage (although that doesn't hurt it either). The dry humor and hilarious videos have come together and have finally reached their potential. Hopefully, Conchords can keep this up.