Ugh... maybe they thought it was funny? Just a 'fine' parody? Because I can't believe that this thing could be done seriously... but then again, if it's a parody, one could have made it more elegant and funny =_= so mocking at Kishimoto's manga they ended with making fun of themselves.
Well, I hope that the 4th volume will be the last one D:
the more disappointing is that, as you say, good comics are not published =_="
(btw, we in Russia have some sort of plagiarized Harry Potter. It's called Tanya Grotter and is also very creepy. There was a scandal with it, but as far as I know, it keeps going T_T)