Interestingly, "Sweet Victory" wasn't actually written for the show. It is a stock piece from the Associated Production Music library. It just happened to fit the mood of that scene, so it was used.
Anyway, songs on SpongeBob can be a mixed bag. Some I like ("Hey All You People", "Ripped Pants", "F.U.N."), some I don't ("Without You", "The Very First Christmas", "He's Flying", "All You Need is Friendship", "The Best Day Ever").