This track, along with it's single-companion Beautiful People, is generally considered Hallucinogen's worst. I disagree. Both this and BP are great tracks. The bass/percussion is excellent, and while the lack of melodies isn't too good, the subtle layered shades of twistedness make up for it.
And the dial-tone part in Mi-Loony-Um is just hilarious.
It's true. They want to stop before they run out of ideas. And the idea of a perfect trilogy is rather nice too...
Simon 99% confirmed this in an interview.