This was the beginning of the end of the Pixies, sorry. Covering a forgettable minor hit from forgettable has-beens the Jesus and Mary Chain? Terrible. This had to have been Black Francis' idea.
JAMC didn't become has-beens until well after they wrote this song, and were able to lay down the framework for just about everything worthwhile that came after (Radiohead, Nirvana, Oasis' first album, Blur, etc. etc.) before the inevitable decay.