If spoken to, he discusses his idea for a "Goblin League" competition with the player, who can tell him that this is a good idea or a bad one. This does not affect the quest.
Dipflip is the only character released in the Land of the Goblins update that was not originally in the RuneScape 3 version of the quest. He is a reference to former Mod Flippy, who was one of the main developers of Leagues.
"Goblin League" was a popular comedic prediction for what the second League would be; it eventually turned out to be Trailblazer League.