I think if you watch it while keeping in mind that such a thing was part of the vocabulary of television back then, then it's easier to watch. Its often interesting to me to learn why such episodes happened, not just in TNG. Sometimes it was a budget saver, some times it was cast, writers and crew putting an 'easy' episode on the slate to give themselves a break during a punishing schedule... It was just as you say, talking about old times all misty eyed, but it happened all over TV at the time.
I think the episode is kind of an artifact and actually rather charming when viewed that way.