But you can say the same for Star Wars. Should that just be made as the lowest common denominator for 10 year olds? Those 10 year olds, like when we were all 10 years old, should STILL get a good movie. Look at all the fantasy and sci-fi films we got when we were 10 years old; TMNT, The Dark Crystal, The Never-Ending Story, The Witches, etc......just because He-Man was based on toys does not mean it's any less inferior. There is a ton of mythology and complex characters created from that toy line, so that argument is moot. Look at Transformers, we are already 4 movies in, and that was based on a toy line. Sure, those films mostly suck, but that's a writing and directing issue, the characters and mythology already exists aplenty.
If studios can crank out all these superhero movies that were also created to sell comics and toys, why should He-Man of all things be looked upon as any different. It's still within the very same genre.