First regular appearance of the newly-designed Olive Oyl.
Badgag is a pun on Baghdad. In the postwar years, there was much interest in the Middle East, particularly for the oil discovered there. So the influence of the region showed up in popular culture, as shown here.
Just about every cliched mystical trick of the East is shown here: hypnotism, snake charming, rope stunts, flying carpets, and more. The audiences likely just loved it.
The "B" on the chest of the "Great Bourgeois" was probably a nod to the 1940 Fleischer Studio "Superman" color shorts.