I'm not sure if I get it. Perhaps quintessential "old comedy". I acknowledge it seems relatively seminal. Its kind of interesting from a historical perspective, I guess. I think I got most of the references, but I don't think I laughed during it. Watching the interview, though, makes me want to watch the rest of them.
"Late night... call in talk show that dealt with tarot cards and UFOs and all of the most arcane..." Night People carrying on tradition from even before George Noory? But the modern, surreal radio comedy universes of Newbridge or The Mighty Boosh seem also to have been preceded by this, as well as things like Tim and Eric or Mr. Show with their stream of consciousness satire.