Yes, the song is supposed to be a little sarcastic about what "LP is supposed to be".
I wasn't trying to point that though.. Behind the insanity that is going on in this song, there IS a logical progression to the "singing the first verse, rapping at the second etc".
This song could have been made in lots of different ways but they chose that insane way for the reason you mentioned.
What I did, was that I took that little thing out of the equation and explained the song from my point of view.