To put it quite plainly, nothing happened this episode. I guess that might be charm of many episodes of that 70s Show - the great comedy despite the fact that the show is not very plot driven - but now the entertainment factor has declined severely to the point where the one liners and short exchanges are so weak they can no longer carry the show as they once did.
The refreshingly random humor of Michael Kelso - especially in his relationship and exchanges with Hyde - was a huge factor in the show's overall entertainment value, and now that he is gone the show has lost that slightly stupid but unique comical dimension.
Randy, essentially the replcement character for Eric Foreman, is not funny and very one dimensional. The moments when his dialogue is designed to be funny fall flat, and they are all very similar - he tells a little silly story that really isn't funny every single time. Though Eric Foreman's character also relied on essentially a single tactic for his humor - his quick, witty jabs - his diaglogue was truly witty, unlike Randy's, and he was a real "smart mouth," in the words of the great Red Foreman.
What the show desperately needs at this point is a guest performance by Michael Kelso (played by Ashton Kutcher) and Eric Foreman (played by Topher Grace) to restore the initial unique character dynamic that made the show so successful and enjoyable in the past.
Let's just hope the finale is as good as it should be.