I just learned about this song recently.
As the graphic on this not-quite-video clip shows, there does seem to be some Syd Barrett/early Floyd influence. John never flipped for real the way Syd did, but there must have been times he felt like he was.
This song was apparently dropped from the White Album at the last minute. My guess is that he pushed his vote to the limit getting "Revolution 9" on and couldn't swing this one as well. Did they make the right call? I could see an argument either way.