SpongeBob and Patrick are embarrassing Squidward in front of Squilliam and Squidward wants to "one-up" Squilliam, but it seems impossible. Squilliam's yacht gets destroyed by SpongeBob and Patrick as revenge on Squilliam, as they felt bad for Squidward.
The title is a pun on the phrase, "y'ought to know."
"We paid nine dollars for this?"
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