I don't believe that anybody has come to a conclusion on why something is funny. It's funny because it's ridiculous and it's ridiculous for different reasons at different times.
The '80s were fabulous. The '90s sucked and the '70s were just a sad sad time in human history. Go 1980s! There's something that's just so cute about that time. And not just yellow nail polish and 'I'm a loner.'