It looks as if the PTPA lettering, sheathed by a vaguely phallic structure, is penetrating the tennis ball's intimate area.
In general, the PTPA aesthetic undermines the credibility of the association. They just launched but are already in need of a rebrand. The logo is awful, yet it might be the best element within their overall aesthetic.
I don't think this is a matter of the PTPA "not getting along" with the WTA, since I think that verbiage implies WTA's decision was made out of spite (which we have no reason to believe is the case). This is just a matter of groups with competing interests...competing.