That movie is a long series of spoofs nicely spliced together to form a story. To the point that it even works in the reverse, you've seen Hot Fuzz and then years later you watch some other movie and suddenly you realize that's where they got it.
"I picked the wrong week to stop sniffing glue!"
It was a fun echo, because when I was a kid I watched it with my parents, and my Mom had to explain to me who Ethel Merman was.