The point of it as I see it is thus: A common argument among certain religious types is that, as the existence of God cannot be disproved then there is good reason to believe in him. The Church of the Flying Spaghetti Monster states that, using the same logic, there is also good cause to believe in his noodliness.
EDIT:
Just read the wiki article, this is hilarious:
"The central belief is that there is an invisible and undetectable Flying Spaghetti Monster, who created the entire universe "after drinking heavily."[14] The Monster's intoxication was supposedly the cause for a flawed Earth. All "evidence" for evolution was planted by the Flying Spaghetti Monster, in an effort to test Pastafarians' faith ? a form of the Omphalos hypothesis. When scientific measurements, such as radiocarbon dating, are made, the Flying Spaghetti Monster "is there changing the results with His Noodly Appendage."[4]
The Pastafarian belief of heaven stresses that it contains a beer volcano and a stripper factory.[26] Hell is similar, except that the beer is stale, and the strippers have STDs."
