The new resurgence in Steamed Hams meme videos really does make it apparent how it's like the perfect self-contained sketch in it's simplicity. It's genuinely funny on it's own to the point that you can probably enjoy it even if it's the only simpsons media you've ever seen or osmosed, but the way it's funny makes it great for building on. You can do a bunch of stuff to it without making it unrecognizable.
Steamed Hams is the Rye Bread of simpsons bits. Tasty on it's own, but also makes for a great sandwich because you can still taste the rye flavor under everything else.