I agree that if you're an adult or are interested in classic Disney, there's nothing on the Disney Channel for you.
But in dumping its adult and nostalgia programs it didn't lose touch with its roots. When you consider the backgrounds and sensibilities of Eisner and Iger, both of whom are ex-network TV executives trained at programming for kid demographics (Eisner cut his teeth as head of ABC Children's TV), the Disney Channel has found its roots and come home to papa. It's no coincidence that Bob Iger replaced Walt Disney Studios chairman Dick Cook (whose first job was at Disneyland on attractions such as the Monorail and Railroad Trains) with Disney Channel president Rich Ross (whose first job was at Nickelodeon on shows such as Clarissa Explains It All and Hey Dude). It's no coincidence that the same Bob Iger gave notes on the pre-opening World of Color show at DCA to age it down, insisting it contained too much material aimed at the Disney nostalgia crowd. And it's no coincidence that Disneyland attractions like the Submarines are increasingly aimed at kids, and that big-budget projects like Carsland are the result of the booming sales of Cars toys to the boy demographic.
Disney Channel or Disneyland, these kid-TV-trained guys are just doing what they know how to do best -- selling kid & tween branded entertainment to the kid & tween market.