It seems the writers took this week off.
The show was a mess of ideas that had potential but weren't fully realized. I still don't really *get* the whole deal with Jerry's girlfriend. Bringing in his parents for dinner at the diner was lame. George and Kramer taking an immediate dislike to Ellen was never explained. Their little chat with Jerry didn't go anywhere. It was like the writers had no idea either so they just chalked it up as "one of those things".
Kramer selling his life stories (his soul?) to Peterman (the devil?) was a great premise but it was introduced too late in the show and they didn't do as much with it as they could have. This should have beem the main focus of the story.
How does someone with a 2.0 GPA even get an interview with the foundation? How does he just up and join a gang? I thought the ending was bad with George trying to mug Jerry's parents and them just brushing it off as George being weird. I think a better ending would have been George greeting Jerry's parents with hugs (and they would have confused looks on their faces), George lifts Morty's wallet without him knowing and the final scene is the Seinfelds at the airport with Morty repeating his classic line: "My wallets gone!". Instead George just ran away. Guffaw!
So far this is the worst episode of an otherwise worthy season, IMO.