That was a fun song, done at the beginning of his career.
He was toying with the Reggae rhythms with blues chords on the piano. It still shows his songwriting talent for pop music, always a catchy hook.
This has nothing to do with Rundgren, but it's before my time, but you might be in the right age range to remember it.
Do you remember a song called Timothy by the Buoys from 1970? I only heard it in the last ten years. It's a good song, but apparently about three young men trapped in a cave in, who allegedly resort to cannibalism?