I feel like this is going to result in a generation of adults with absolutely awful taste. Imagine if your favourite childhood show was, like, a poorly animated spiderman-driving-a-car video on YouTube.
People who grew up and want more out of culture will do what they always have done, which is look for alternative media.
Thankfully, there are still youtube channels with shows and cartoons we grew up with, so parents can show those to their kids instead of today's trash.