To dissect yet another frog, it is about the hypocrisy of mocking one set of beliefs as crazy, whilst believing some equally crazy sounding stuff yourself.
It doesn’t hang on some odd philosophical theology debate about whether it is right to call something “bad” because it turned out to be “bad” even though it wasn’t “bad” at the time.
But it parodies christian beliefs in every other statement in that phrase, so it is a little incongruous to have one ‘made up’ one isn’t it?