Well to be strictly fair, I think waters must be riffing off Postman, as the book seems to have been published in 1986 and the cd in 1994.
But that said you are quite right that Waters is deliberately referring to Postmans work. And quite right to say it is a truly superb album, and probably my favourite single album of all time.
We watched the tragedy unfold
We did as we were told
We bought and sold
It was the greatest show on earth
But then it was over
We ohhed and aahed
We drove our racing cars
We ate our last few jars of caviar
And somewhere out there in the stars
A keen-eyed look-out
Spied a flickering light
Our last hurrah
Our last hurrah
And when they found our shadows
Grouped 'round the TV sets
They ran down every lead
They repeated every test
They checked out all the data on their lists
And then, the alien anthropologists
Admitted they were still perplexed
But on eliminating every other reason
For our sad demise
They logged the only explanation left
"This species has amused itself to death."
™ Version 4.2