Not going to really do a detailed examination of this one (EDIT: A story from Space War #2, which I got at Golden Age Comic Downloads), at least not compared to my normal stuff, but here's a quick summary.
Jupiter wants to conquer the solar system. The outer planets are too dangerous, so they turn inward first.
But they don't like Mars...
...because Mars is red. The Martians know this, and...
...they turn the other planets red, to discourage the Jovians.
The Jovians apparently are total wimps.
Their hilarious explanation of why they can't stand red? They had an industrial accident that created the Great Red Spot.
All things considered, that's even sillier than thinking the Spot is a continent (there are a few older SF books that treat the Red Spot as such).