Has the Watchtower "Jumped The Shark"?

For those who need a refresher, here is the latest redefinition of "generation" from the 4/15/2010 WT:

How, then, are we to
understand Jesus’ words about “this generation”?
He evidently meant that the lives of the anointed
who were on hand when the sign began to become
evident in 1914 would overlap with the lives of other
anointed ones who would see the start of the great
tribulation.

My question is...is this it? Has the Society finally "jumped the shark"?

For those who don't know the term "jump the shark", here are some snippets from a Wikipedia article:

Jumping the shark is a idiom used by TVcritics and fans to denote the point in a television program's history where the plot spins off into absurd story lines or unlikely characterizations. These changes are sometimes the result of efforts to revive interest in a show whose viewership has begun to decline. In other cases, the changes have other causes (e.g. an actor quitting, different writers being hired) and the diminished interest is the result. The two causes can feed into each other, leading to even greater changes and even lower popularity. Nonetheless, some series remain profitable and popular long after they have been judged by some to have "jumped the shark". The phrase has recently come into more general usage, and is applied to cultural phenomena other than television programs.

The phrase jump the shark refers to the climactic scene in "Hollywood," a three-part episode opening the fifth season of the American TV series Happy Days in September 1977. In this story, the series' central characters visit Los Angeles, where Fonzie (Henry Winkler), wearing swim trunks and his trademark leather jacket, jumps over a confined shark on water skis, answering a challenge to demonstrate his bravery. The series continued for nearly seven years after that, with a number of changes in cast and situations.

Has the Society crossed a threshold? Many of their teachings have been shown to be demonstrably false, but at least had a patina of believability.

But the current "2 overlapping generations really equal one generation" seems beyond the pale. I can't wrap my mind around any way to justify it, even if I wanted to believe it.