@mysteryman,
Oh good grief, I was ready to be scandalized but I think it's more "PC" and reactionary to get three-exclamation-points-worth of upset about this.
There have been sooooooo many variations on the basic story -- big bad pig and three little wolves, etc. etc. It's not like the variations then destroy the orginal story which is never to be heard from again.
Meanwhile, this one isn't a masterpiece but it's not horrible either, kind of funny even. "Now say your line." C'mon. There's definitely some irony going on.