I think the song's pretty fun in a "they're spoofing the genre and having a lot of fun" type of way, but all in all, probably a mistake to record. Many won't get the joke and it'll just add fuel to their claims that The Offspring are "no longer punk."
For example - I do not like this song, I think it's definitely the worst thing I've ever heard this band do, but I do however think it could be a hit radio song. You see?
I did it all for the lulz.