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You already know that I don't like anything from Disney. I really doubt this is an accurate version of Treasure Island. But it is a film that stars The Muppets (and Tim Curry) whose excellent acting and comedy makes this a great film to watch.
The best characters are the hotel owner, who beats up all the robbers that set fire to her hotel. Fozzie plays a scenile dimwitted son of a ship builder, who uses "one of Daddy's ships" and invests in the trip to find buried treasure. This means that he hired the crew, which includes villians that are after the treasure. Rizzo also started a tour guide service.
Some of the other crew members are Dr. Bunsen as the ship's Doctor, Sam as Mr. Arrow, and Kermit as Captain Smollett.
Other humor is from the two critics, an extra who sung "I'd like to get my hands on whoever wrote the script", and Mr. Arrow, is very stern but also foolish (probably from his alcoholism, which was not addressed in this film) and as a result Long John Silver, a cook (Tim Curry), tricks Mr. Arrow into leaving the ship, leaving behind his keys, so he can inspect a lifeboat by sailing it.
Mr. Arrow also interrupted an interrogation by some villians that were about to torture Rizzo, before Mr. Arrow walked in and said: "This does not look safe!"
"Come join me in this little safe boat. Oh... and that Long John Silver may not be trustworthy."
At the end of the film, Mr. Arrow warns the crew that the lifeboat that Long John Silver boards with some treasure, "is not safe.".
And of course another hilarious character is Miss Piggy, and that tribe that she joined.
I guess it is a pretty accurate film. one of the former captains, a drunk, actually dies, although the death was lengthy and comical. I liked the reggae song in the end.