The penultimate episode of SEINFELD exhibited some nasty characteristics of a true nadir in their comedy quotient; to put it in Wall Street parlance, the show experienced a severe correction with the Puerto Rican parade episode.
One theory which has been proposed to explain away the fundamental mediocrity at work is the supposition that the primary purpose of this episode was to invoke such tepid response so as to serve as a hedge against overexpectations of the climax to the SEINFELD juggernaut; purposeful application of a bad episode to contrast with the last episode does justify the logic of such a protocol if you stop and ponder such a move. Another theory which has been proffered is the 'too many cooks' theory; this one is a comment on the obvious vanity ploy of allowing a plethora of scribes to contribute material to the last few episodes so as to score a credit for posterity sake (apparently, a lot of favors are being called in). I'm not so sure about this; after all, if it's being done for purposes of vanity, then I'd assume the producers of the show would basically have processed the glut of material to eliminate any illegitimate/ill-conceived comedy, thereby still allowing their cronies access to the mantle while maintaining the quality of the show.
Well, I can't really say why the show was so bad, but allow me to give my reasons why I didn't like it. I think the first thing to point out is the obvious debt the style of the show owed to earlier SEINFELDs, when the show was truly about 'nothing' (i.e., a compendium of true-life observations minus any sort of energetic plot structure). That's certainly what I got; in fact, one of the episodes I can't stand, the one in the Chinese restaurant, was a stylistic doppelganger to this one in certain respects (i.e., four friends in a car stuck in a traffic-jam quagmire as complemented by three friends stuck in a restaurant waiting for a table). That show was indeed about nothing, and it's a fallacy to believe that it is truly exemplary or entertaining; when the show worked best, when it fired on all cylinders with optimal grace, it was about 'nothing' plus 'something'... something being the eneregetic plot structure I mentioned earlier (a good illustration would be the masturbation episode; the 'nothing' was the whole cultural concept/idea about sexual self-gratification, the 'something' was making those static observations dynamic by throwing them in a contest device). The Puerto Rican episode was, for the most part, nothing with nothing else (glaring exception would be the George subplot; here you had 'nothing' [saying things aloud in a movie theater to be funny] with 'something' [plot of George vs. Laser-Boy competitor]).
Another reason why the episode was lacking was the all-too prevalent as of late uninhibited use of cornball material; there was a lot of this present in the episode. The apartment-for-sale used by the Seinfeld gang for their various agendas...Indiana Elaine and the Bleacher Of Doom...the battle between Black Saab and the maroon vehicle...all of it silly and very non-Seinfeldish. In fact, think of the scene where Kramer plays Carter-like negotiator and tries to intervene on the behalf of Seinfeld/Joyner; didn't you find it silly when he told Seinfeld that Joyner wanted an auto-apology-gesture? Yes, people do that in real life, but I found it a self-conscious employment of formula which fizzled right before my eyes.
There's been a lot of talk about the episode (maybe too much talk) being insensitive to the Puerto Rican community. I didn't really find it offensive, but I'd like to ask those in the newsgroup if you're getting sick of the following as much as I am: purposely trying to be politically incorrect to show how non-PC you are. Yes, PC is irritating, but so is forcing the issue as well. You know how they could have been really politically incorrect if they'd wanted to (and funnier in the bargain)? They missed a perfect opportunity to parody the whole TITANIC phenom with the Blimp movie; George could have said he was going to see the Blimp movie because it was a hit with young girls so as to score...even though he ostensibly was going for 18 year old girls, he could have been busted (by his friends and the law) on incorrect suspicions of being a stalking pedophile. That would have been funny, I think, and ceratinly not too correct for a sitcom.
In conclusion, this was bad SEINFELD. I'm hoping/praying for the finale...