Its still a great watch if your into these kinda of shows, after so many years it still provides a great laugh. It is a show that you'll either like or not and thats ok, Adult swim shows were always like that and this is one of the best ones from the early years of it!
This show trailed the way for so many others on Adult Swim so many years ago. I'll even go so far as to say it inspired shows like Archer. In fact Archer even did a parody of Sealab 2021 in one of it's episodes with the guy who voices The Captain reprising his role (kinda).