If you don't Weird Al Yankovic is a very talented man or enjoy Homer and Jethro(both now sadly departed) you have a very different idea of both talent and humor than I do.
Parody can definetly be overdone So can Bob Dylan, Pete Seeger, Gordon Bok or Hootie and the Blowfish.
There is such a thing as overkill. A few good parodies never hurt anyone.

troll