In imitative counterpoint, two or more voices enter at different times, and (especially when entering) each voice repeats some version of the same melodic element.
However, their songs, while snappy and possessing humorous two-part harmonies in counterpoint, are repetitive, usually contain nothing but nonsense lyrics, and impart no information whatsoever.
Chords are the simultaneous soundings of notes; whereas harmonic, vertical features are considered secondary and almost incidental when counterpoint is the predominant textural element.