Basically, this is about huge perverts having unhinged sexual fantasies and losing self-respect just to see panties. I don't really know what made them to serialize this gag comic that's all about panties. I mean I get it, this is supposed to be funny because of the "whacky" faces the perverted characters make hen they humiliate themselves just to exercise their fantasies. You could say this is just straight up underwear fetish comedy. Also, considering the time this was made, it was probably experimental, there's nothing wrong with liking this type of humor, in fact, I could say I laughed at some moments. But I think it was more focused on the graphic stuff rather than the comedy, that's why it's kind of boring to watch throughout, I mostly skimmed it.
I guess I just have too much self-respect to give a rating about this in a "objective" manner, but I can't seem to stop myself from disliking it. It just leaves a bad taste for me and was just gross at most times.