I disagree with saying that people who take things 'too seriously' won't enjoy this series. Too me that's just silly considering that we are all watching ANIME. To this day my family still thinks I should 'grow up' and stop watching 'cartoons'. And considering the majority of animes are comedy/romance/action one can't call the watchers of these kind of shows 'serious'. Panty/Stocking/Garter is just disgusting low-brow humor. Even the creators admit to that. That's what they were going for when they created it in their drunken stupor.
There are plenty of anime fans that take things too seriously or look too deeply for meaning in things. XD You wouldn't think that about Naruto fans but boy, get them into a debate and you'll see this action-oriented anime is serious bznz. The difference is, you're ragging on something we already
know is low-brow humour that doesn't try to take itself seriously. I'd say it is just as much a mockery of western animation as it is reference to it. I'm not saying I'm suddenly a huge fan, but this particular "anime" is exactly as sold on the label. You're going to get some nasty stuff but that's what it's selling. Most people like this show for its comfortable "whatever" attitude about adult humour, and combining it with a medium we understand and recognize (power puff girls comes to mind). I don't like the potty humour but I have only seen one episode with it so far and that's been the first.
If it's not your kind of thing, that's just what it comes down to. I find some anime to be worse--with fanservice galore and such obvious/cliche pairing dynamics that I wonder why it even bothers trying to tell me a story. Panty and Stocking w/ Garterbelt even with its stupidity can still give me something that some animes can't and that's entertainment.