Along with The Blood from Season 9, this episode ranks among the worst Seinfeld episodes. I always thought Season 8 was one of the weakest seasons, and this episode is a perfect example of the wackiness of the last two seasons of the show. While I'm not one of those hard-core fans who thinks Seinfeld should have ended after the seventh season (there were still some classics in the 46 episodes that followed, mainly in Season 9), but this particular episode just didn't cut it for me.
Kramer is up to his crazy schemes again, this time hosting a Peterman Reality Tour around the city (spoofing the Kramer Reality Tour hosted by the inspiration for the Kramer character, Kenny Kramer at the time). Meanwhile, Elaine has a problem with disposing muffin tops from a new restaurant Mr. Lippman established from an idea Elaine had previously. But the wolfman spoof at the end (Jerry's storyline) and Steinbrenner's deal with the his chicken guy equivalent (George's storyline) were just stupid and seemed very out of place in the Seinfeld universe.