I have mixed feelings. yes, parody is protected. It should be, even if we do not like the result. Copyright infringement makes my teeth chip. Live by the rules. My mom's now out of print novel was copied to a torrent download site. That harmed what money she made from the book. It was very difficult to end that problem. Bits of Uncle B's work were copied entire to a Polish blog site. Quoting is okay, allowed by US law at least. Stealing an entire section is not.
Say your piece. Don't like the Watchtower, fine. Live by the rules. There is nothing one can say about the Watchtower, true or false, that would surprise anyone. And personally I do not care what another thinks about them. But live within the legal rules or pay the price.
If the Dubtown creator crossed the line, it is his fault, not the Watchtower's.
I would resent my work being misused. The Watchtower watches carefully for the misuse of their material even by their 'friends.' Just do not cross legal lines, and criticize all you want. We all know what the Watchtower's reaction will be if we cross that line. We shouldn't moan and groan if someone does and suffers the consequences, and we shouldn't be surprised.