So that's why one of my rules of parody writing is that it's gotta be funny regardless of whether you know the source material. It has to work on its own merit.
I don't want to pooh-pooh modern pop. I appreciate that as well, but my personal favorite kind of music is guitar-based rock. I like grunge and garage bands and alternative music, but that's more my personal taste.
There's a lot of different ways that a song would be a challenge to parody. There are a lot of songs that would ostensibly be a good candidate for parody, yet I can't think of a clever enough idea. Some songs are too repetitive for me to be able to fashion a humorous set of lyrics around. Some songs flat-out just don't work creatively for me.
I make charts of songs that are good candidates, good targets, so to speak. Then I try to come up with ideas for parodies. And 99% of those ideas are horrible.