I'm surprised nobody made a topic about this episode yet.
Anyway, this is one of my favourite episodes from Season 3! The Patchy the Pirate plot is hilarious, especially when he throws away all his SpongeBob merchandise in a rage! And the SpongeBob plot is just as funny, and I love the songs such as "He's Flying", they kinda made the episode feel like a musical.
However, with the "Remembering SpongeBob" scene, and also the ending where the Narrator says "SpongeBob will live on in our hearts and in our minds", I can't help but wonder whether this was originally intended to be the series finale episode.