This is a historic cartoon in that it's the first ever Tom and Jerry. Actually, it's not even called that because Tom is "Jasper" in this one, and he looks different. His face is bigger and fuzzier. Actually, his whole body is furrier.
When you are used to seeing these Looney Tunes cartoons from mostly the late '40s through the 1950s and then you see the beginning years, like in Bugs Bunny's case, it's strange to see how they look. We get comfortable and used to seeing our "friends" a certain way, so I always prefer that over these early renditions of a character. I've said the same about Bugs and Daffy Duck.
Audio-wise, too, this is different in that Tom, when injured, makes screeching noises like an actual cat, which is not the norm for him.
However, the joke in this cartoon is one that they would use over and over, no matter who was doing the writing or animating: the cat being told "if this happens one more time, you're outta here..." and Jerry hearing that and planning to make sure that happens. In this debut cartoon the threat by the maid and the threat is that if "Jasper" breaks one more object in the house, he's toast.
For audiences in 1940, I'm sure this was very entertaining but for those of us who have seen at least 40-50 Tom and Jerry episodes, this is nothing we haven't seen done before and done much better. Overall: not bad but nothing special except for historical value.