Yes, and even if they are outdated, they maintain their place in Hollywood's history. They have fullfiled a role in bringing movies to where they are now. GMR tells the story of Hollywood movies, it is not a random collection of old stuff.
Weismuller's Tarzan may be unwatchable, but that is the good thing about the GMR: you don't have to watch those old movies! You're still brought up to speed on their history. All you have to do is sit through a fifteen second 3D segment of them. Disney's GMR already is Hollywood Movie History for Dummies. And the brilliance of it is that it works also on the level of a more informed audience, for whom the sight of a classic scene from Casablanca is a delight precisely because of the recognition. The GMR feels like a classic EPCOT pavilion.