Disaster Movie doesn't seem to meet the definition even for the shallowest of parody. It just seems to be
1. Here's a recent celebrity or movie character
2. Here's a recent celebrity or movie character meeting some horrible fate
3. Take that, recent celebrity or movie character!
Hopefully this is the movie that finally kills their film career... at least Uwe Boll had that whole tax write-off excuse before the Germans revoked that. The best quote I ever read about Friedberg and Seltzer was in a review for MTS (paraphrased):
"At the end of MTS, audiences are treated to President Bush getting kicked in the balls. As of this writing, President Bush's approval rating is 35%. Friedberg and Seltzer's movies average 8% at Rotten Tomatoes. At this rate, maybe America would rather see President Bush kick Friedberg and Seltzer in the balls."