The first ten-or-so minutes of this episode are a little boring, but the second half of the episode is quality stuff and very well written.
The thing that bothers me the most about this episode is the fact that the existence of a vaccuum in space is ignored. The Thundercats jump and fall from the Feliner to the Vertis (or however it is spelled). Also, the distress call, when asked for a location, says the ship is "six light years" from some other location. That isn't very precise at all. Lion-O says the black hole is probably twelve light years from the Vertis, but it doesn't take them long to get there or for the Sword of Omens to fall into it. This neglect of scientific fact really bothers me.
They discover a spaceships' graveyard and a strange tower on the other side of the black hole . The tower is controlled by a supercomputer calling itself NEPTUNE. The Thundercats learn that the site was built by Venutians, which Lion-O mentions is now a burned-out planet. This is all interesting insight into the universe the Thundercats live in.
This is the first appearance of Captain Shiner, who would appear again later. I always thought he was one of the most interesting minor characters of the series.
The escape from the black hole is exciting.