I looked into it. The gist of the episode is that Mr. Krabs finds out that Plankton is scared of whales, and Krabs uses that to psychologically torture Plankton for the hell of it. Traumatized by constant fear of whales (which are really Krabs in a costume of Pearl,) Plankton is driven to the point of implications that he'll commit suicide, because of Krabs's sick form of amusement.

A bit more macabre than jellyfishing and Krabby Patties, no?

When Spongebob tells Mr. Krabs that Plankton is just laying on the road waiting to be run over, he LAUGHS.

As one guy in Youtube say, some episodes are proof that you're a bad writer. This episode is proof that whoever wrote it is a bad person.