We usually agree on a lot of things, but I think it is a good replacement. Bugs must have had fewer and fewer visitors. However, this is a show with a message at least, that would be a positive thing with children. I don't believe that they looked like monsters, the looked like animals, just talking ones. I believe this park is called Animal Kingdom and even though they are not as down to earth basic as Bugs were, it is still a better connection with the theme than any other IP they could have put there. Of course, as usual, all the adults will only be happy when all the attractions that are for kids are eliminated.
Once again I will remind everyone that most of the visitors to that attraction will be people with children, so even though it doesn't fit with our "adult" sensibilities, it has an audience that aren't as likely now to wet their pants during the show. And they will leave wanting at least one of the "plushies".
Bugs life was obviously beyond the reach of many adults too that didn't get the message about how important how important bugs are to our survival, but believe me that message wasn't implanted in the minds of a child either. All they saw were scary bugs that their mothers screamed to their fathers to hurry up and kill. As most of the edutainment projects ended up, the effort was not sinking in to the audiences, this at least might help with the Friendship message it sends. Probably not, but we can dream can't we?