Parity or Parody?

When will we learn? Somebody please smack us over the head, and help us say “parity” when referring to “closeness.” This seems to be a reoccurring problem, and as always, the astute ‘buttheads were there to point it out. Here is a great letter from Rick Hatch:
“The America's Cup may indeed be a parody (see definition no. 3 below) of the "friendly competition between foreign countries" envisaged by the settler of the Cup (George Schulyer); however, Joe Public is more interested in PARITY!"
par·o·dy (n)
1. amusing imitation: a piece of writing or music that deliberately copies another work in a comic or satirical way
2. parodies in general: parodies as a literary or musical style or type
3. poor imitation: an attempt or imitation that is so poor that it seems ridiculous
[Late 16th century. Via late Latin from Greek paroidia , from para “secondary, indirect” + oide “song.”]
par·i·ty (n)
1. equality: equality of status or position, especially in terms of pay or rank
2. similarity between things: the quality of being similar or identical
[Late 16th century. Directly or via Old French parite , from late Latin paritas , from par “equal” (see par).]
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