That's exactly what I thought when I first heard The Venetia Fair. "This is what Foxy Shazam should sound like". With the exception of a few songs on their self-titled, I could never get into them past Introducing (which was one of my favorite albums in 2008). TVF was one of those bands I stumbled upon at Warped Tour and I fell in love with it. I agree with whoever made the Foxy Shazam/Panic! At The Disco comparison.
In fact, my thought when TVF came out was, "ugh, this sounds like Panic! trying waaay too hard to be Foxy," which, for me, was a HUGE turn off. Difference being I would eventually love where Foxy ended up on their self-titled, and therefore not at all being excited about traveling five years back in time. But, to me, "Every Sick..." picked up where Foxy's self-titled left off in terms of song writing and production, but went back to being really dark and heavy, which after "Church of Rock and Roll," is perfect and extremely welcome. To that, I would add that their darkness/heaviness is really reminiscent of MCR circa "Bullets," which I've heard and agree with as it absolutely reminds me of ten years ago.