Play it if: you have fairly low standards for joke IF.
Don't play it if: you prefer a bit more elegance in your parodies.
In brief, Pick Up The Phone Booth And Die is a punchline game, where the whole point of the thing is just one big joke. This doesn't have to make it bad, but while games such as Adam Cadre's 9:05 and even Ian Haberkorn's Conan Kill Everything accomplish this with some degree of elegance, Pick Up The Phone Booth And Die has basically no replay value - because its joke is one-note. A funnier and thus more effective game might have resulted if the objective had been to avoid picking up the phone booth at all costs, in spite of various incentives to do so.
There's not much to say about a game that has so little to recommend it and so little to damn it. It's too insubstantial to even be considered a waste of time, but that's not really a good reason to play it, is it?