After failing to steal the Krabby Patty formula once again, Plankton decides that he is tired of eating "holographic meatloaf" and wants to switch lives with Mr. Krabs, believing that he will have a better life. Plankton does so using his machine, and wakes up in his Mr. Krabs' office, wearing his uniform, and sees a name plate reading "Mr. Plankton" and a photo of him with Pearl. Plankton realizes that he has successfully teleported to a universe where he was successful, and has an alternate SpongeBob give him two Krabby Patties for "bun inspection". While Plankton is in his office, drooling over the Krabby Patties and celebrating his new found power and wealth, SpongeBob suddenly appears for his weekly performance review.
Plankton tells him that he's fine the way he is, but SpongeBob persists and all but demands that something be found wrong with him, Plankton relents and tells him he has been using too much sauce, which contrary to his insistence of being criticized SpongeBob gets shocked and starts to make weird shuddering noises while twitching. To calm him down, Plankton promotes SpongeBob to "co-cashier", much to the disdain of that universe's Squidward, who enters his office to complain and wants his view to be a little less yellow, and is then made fry cook while Plankton replies, "I hope you like gray!" Before Plankton can get back to his Krabby Patties, an alternate Pearl, now his daughter, comes into the restaurant, asking for an "advance" on her allowance.
An alternate Mr. Krabs, who now has the life of Plankton, and is completely naked, as Plankton normally does not wear clothes, appears, with a Krabby Patty in hand. SpongeBob tries to shoot Krabs using a cannon that shoots out clothes, and throws the Krabby Patty to Plankton after Mr. Krabs is shot with a bra, he is though still confused about what is going on.
As Mr. Krabs leaves, the people at the Krusty Krab give a "victory screech". Mr. Krabs tells Plankton that he will come back every day as he says repetitively, "And the next day, and the next day, and the next day-"Soon, when he leaves the Krusty Krab, he calls Plankton on a phone and repeats the lines to him over and over again, Plankton then screams and he wakes up in his reality. The episode ends with him saying "Holographic Meatloaf. My favorite!" and Plankton eating happily.
This is one of the few episodes that is focused on Plankton.
This is the sole episode where the mainstream SpongeBob doesn't appear. However, his alternate counterpart does.
The Dutch title of this episode is "Hoe het is om meneer Krabs te zijn" meaning "How is it to be Mr. Krabs?".
The part where SpongeBob starts whining just because Mr. Plankton said that he used too much sauce became popular on YouTube for its stereotypical Asian look. The "Oh my goodness! SQUIDWARD!" quote has become a meme as well.
The "victory screech" and when SpongeBob screams "SOILED IT!" multiple times has also become Internet memes.
This is another instance in which Squidward's Krabby Patty cooking skills are shown to be subpar; a previous instance was in "Hooky." His cooked patties were said to taste like fried boots. In fact, one patty was a fried boot.
This episode's plot is somewhat similar to the "Spy Buddies" plot as Mr. Krabs and Plankton swap places for the day.
This is the only episode that the primary universe SpongeBob does not appear.
This episode marked the first time Plankton hid inside something on Old Man Jenkins' tray. He did this again in "Krabs à la Mode," where he hid inside Old Man Jenkins' drink.
When Plankton says "Reunited, and it's going to feel so good!", it's a reference to the Peaches And Herb song called "Reunited." It can also be a reference to "it feels so good to reunite", a quote from Creed's 2001 hit "My Sacrifice", which was released several months before this episode.
When Mr. Plankton says: "What, did I say the secret word or something?" is a reference Pee-Wee's Playhouse.
The title "The Algae's Always Greener" is a pun of the saying "The grass is always greener".
When Plankton says: "Rolling stones gather no algae.", it is a parody of the saying "Rolling pebbles gather no moss.".
When SpongeBob is shooting Krabs with the clothes cannon, he references a rule common in the restaurant business: "no shirt, no shoes, no service."
When SpongeBob says "Knick-knack, the Patty's back!" it is most likely a reference to "knick-knack paddywhack" in the song This Old Man.
When Plankton is sitting at his kitchen table and he has a can of soda on the table, between frames the can shifts to the edge of the table right before he picks it up.