I figured this out on my own a while back. In the USA the rural areas have a saying, "chewing the fat" to refer to friendly talk among men, usually sitting outside a store (the old days). Well, if bacon is cooked crisp you can eat it quickly. If it's not, then you have to take time to chew the fat. The old-timers had the time to socialize and "chew the fat."
P.S. I can't abide crisp bacon.