The Wicked Shit is a genre of Rap or Rock that is associated with ICP, Esham, Twiztid, Anybody Killa, Axe Murder Boyz, Blaze, etc... Kinda like a more hardcore version of Horrorcore. The wicked shit was invented by Esham the Unholy when he was only 14.
This is a sarcastic answer to a question with an obvious answer of "yes." Taken as a combination of the similarly-intended ones, "Does a bear shit in the woods?" and "Is the PopeCatholic?"