I don't think they were trying to upstage Bonzo, its just a bit of fun. Sheesh. You may be underestimating them though, might wanna check out some of their other work.
https://www.youtube.com/watch?v=0gWK4zvEi2Y
https://www.youtube.com/watch?v=N94bVcKT3bc
https://www.youtube.com/watch?v=U4IobhGhrh0
Be careful listening to Hellbound 17 1/2 in your car, trust me! (1:18) Scared the crap outta me when I first got this album lol.
Play-Doh in hot water over children’s toy that resembles male anatomy
http://www.huffingtonpost.com/2014/12/30/play-doh-tool-toy-cake-penis_n_6396154.html