Getting lampooned by SP isn't in itself a bad thing.
Rather, you can argue that it's a sign of you having enough social capital in the world of US celebrity that you are noteworthy of being targeted by the creators.
So no, in and of itself I don't think it's often damaging to the people who are characterised in the show.....it points a satirical finger for comedic purposes at foibles/actions/attitudes/associations that are already in the public domain.
But this I think was damaging to H&M.
The key message was stop your petulant whinging and fuck off, rather than continually aggravating a situation you are claiming victimhood for.
Rather than being interesting in spite of themselves (and others they've created episodes of), this was "we are all so over you" (and by association most of the demographic the creators associate/mix with, which is exactly the sort of people H&M have been courting).
That's a message that's gotta hurt....because there's nothing worse than indifference for people reliant on their profile to make money or soothe their ego.