Some episodes are legendarily funny, but a lot are very forgettable. It’s more of a cultural bellwether.
Seinfeld was one of those shows that talked about certain issues that weren’t broached on network tv. I think the masturbation episode was the first time it was even alluded to on any mainstream tv.
But at the end of the day it’s a sitcom with laugh tracks, so it doesn’t age super well.
Elaine was part of the masturbation episode and lost, which further speaks to the progressiveness of the show because a woman was portrayed as having sexuality that was outside of acceptable limits at the time (for love only, preferably in marriage). They also presented being gay as acceptable, which was quite progressive at the time where people were calling each other “gay” and the f-word as a terrible insult.