It deploys abusive language, violence, sexual vulgar and disgust, apparently a play on North American culture, for comedic effect. At the same time, it does not present a readable storyline, contains no conflicts, stage characters with no characters. The fun (in an alternative sense) thus comes hollow. This all is perhaps allowable, but does not raise its artistic value in my opinion.
Compared to some other perhaps of-the-same-genre cartoons, for example, Family Guy and South Park, Panty and Stocking is more outright with sexuality and violence, while containing less satire with depth. Not at fault at all, but not particularly interesting either.
EDIT:
I just saw some comparisons between Panty & Stocking and The Simpsons as a justification to the excellence of P&S, and then some praises to the lack of story in P&S as its strength in story-telling.
But, really?
Sure P&S serves just right for some people as entertainment. Its defiance against mainstream culture standard is probably quite able to create some echoes too. (well, not mainstream anymore, judging from P&S's reception.) But no story means a score of 0 on story. No character development means a score of 0 on character. A series may not have to have those. Yet lacking such depth for a story-telling art form is just like lacking intelligence in a person - nothing exemplary.
And the comparison against The Simpsons. The comment claims Simpsons is purposeless and therefore the excellence of P&S, which is somehow connected, is justified. Again, REALLY?? How innocent one has to be to dismiss the socio-political satire Simpsons pranks on? Or are sarcasm and humour ONLY supposed to be shallow and sexual nowadays?
Some comments praise the series' energy and unserious fun. Sure. And it's very logical and sufficient to use these to exalt the series as "masterpiece", because there had been no comedies in Japanese anime history, absolutely no series that were upbeat and airy.
I do not have the wish to proceed any further. It's not like P&S has never been done before. It's not like outright sexuality is a novelty. Just like smoking pot in public is not any symbol of defiance. Disgust is not for the first time used in cartoons, nor is randomness.
I appreciate how some people are enjoying the series, but feel straight offended by comments like "some people who has trouble liking the series should learn to ENJOY themselves once after a while". If you are smart enough to come up with a grammatic structure complicated as such, then you shouldn't be as idiotic as to being unable to understand that your standard of fun is insured to apply to yourself only.
