Well, not really.
The joke is that the then-really existing socialism is/was just as exploitative as capitalism - which it was. But, this is precisely because it was not "socialism" - quite on the contrary - it's because, for the most part, Bolsheviks & other Communist parties that took power actually *perpetuated* capitalist production relations, by substituting their nomenklatura into the role of the capitalist, maintaining their rule and privileges by continued skimming off the surplus value of labor, this time of the working people of the entire state.
(Things were more complex, of course, and there were many notable achievements e.g. in socializing education and health, but to the first approximation, this was it.)
So the joke is, at the same time, a legit criticism of the Soviet & related systems, and a very shoddy response to @Radical_EgoCom's comment. What it points out, correctly, is that Soviets never succeeded in, and ultimately were never serious about, dismantling the relations of production criticized in the original post - and the criticism is left standing on its merits.
And, while I'm here mostly dismissing @failedLyndonLaRouchite snarky response as ungrounded, I am also *very* wary of portraying workers as "uneducated". Working people can think with their heads just fine when they're not spoonfed propaganda, thank you very much. They could see very well the differences between, say, where they could afford to go to the vacation and where Party leaders did, how easy it was get officials to look the other way if you could bribe them, and I could go on. Oh I could.
The joke with overthrowing this snakes' pit of hypocrisy that called itself "socialism", and few were sorry to see it go, was that it got much worse before it got better - and while people's lives eventually got more materially comfortable, they remained more precarious than before, and exploitation never ceased.
@Radical_EgoCom