Argh! I HATE "stories" like this -- it's one of the reasons I stopped listening to Podcastle, every other episode does sh*t like this.
A story has a beginning, middle and end within a proper plot arc. Bonus if it has interesting characters, thoughtful ideas, a likeable hero, and a happy ending, etc.
This story started weird, but great. It tossed around potentially fun "Chekhov's guns" like beads at Mardi Gras. But then, with a snicker-snack... Nothing. The "story" just cuts off (almost literally) at what might otherwise be a climatic scene. No completed plot arc, no satisfying (or logical) resolution, a hundred red-herrings (or guns) flopping about, unused.
Norm has been better about avoiding this kind of incomplete story in the past. Let's hope this was just temporary drunken insanity, or he lost the last 5 pages of the manuscript.