Getting the references doesn't really matter

A good parody is one where ya still think it's funny even if you don't know the original that's being mocked. Fred Armisen talks about this at Splitsider in response to a question about the obscure references on Portlandia:

I just think of my memories watching Saturday Night Live as a kid, I didn't know who the hell they were talking about. There were jokes on Weekend Update that I would laugh at but I didn't know what they were talking about. So I think it doesn't matter — references don't really matter. Even Bugs Bunny is that way, they throw in some jokes for adults and sometimes you just laugh at the way it's being done. That's something that is a lucky break — we get to have Jello Biafra in a sketch, and if you know who he is great, and if you don't it's still a sketch.

Full interview.