I thought "That's Doctor So-and-so" was something used when someone tags a Doctor with a Mister. Octvavius is apparently a doctor of "Slang is Bad."
Peter's look of shock an dismay is hilarious. "You mean I'm not going to get to punch anyone?"
Peter's cover as a news "photog" warrants a snarky answer to that cabbie: "Because if I don't get there quick all the shrimp cocktail will be gone! And your tip! Bam!"