In a positive review for NME magazine, music critic Kitty Empire called The Moldy Peaches "extremely amusing and often brilliant" because of its endearing songs and absurdist lyrics, which she felt distinguishes the band from other indie acts.Robert Christgau of The Village Voice found Dawson's songwriting more endearing and vulnerable than the "ambitious" Green, but said that they are both "cute folkies who break without warning into punk noise and sing a deeply catchy song called 'Who's Got the Crack,' cute floozies who'll fuck anybody with anything when that's their mood or stage of life".
In a less enthusiastic review for Rolling Stone, Jenny Eliscu wrote that the "joyously messy" album is made up mostly of "low-fi, potty-mouthed indie rock" and raunchy humor, which listeners will either find "hilarious or stupid".AllMusic's Daniel Greenwald was more critical and said the Moldy Peaches tried to be funny with their use of provocative language, but sounded like a witless, untalented version of the indie band Beat Happening.
The Moldy Peaches finished 31st in the voting for the Pazz & Jop, an annual critics poll run by The Village Voice. Christgau, the poll's creator, placed it second on his own year-end list.Mojo magazine ranked it 29th on its list of 2001's best records. In a retrospective review for The Rolling Stone Album Guide (2004), editor Christian Hoard wrote that the album showcased a songwriting duo who could successfully combine "oddball juvenalia and superb melodies". In his ballot for Rolling Stone's decade-end poll, Christgau later named The Moldy Peaches the 11th best album of the 2000s.