Exactly. This isn't 'moving with the times'. Moving with the times is getting wifi in the ground, increasing the capacity etc. I'm not particularly against having a mascot but I'd rather we didn't have one, and I'd definitely rather he was nowhere near the pitch on matchday.
Id say having a mascot is moving with the times, as it's fairly clear that a lot (not all) of modern kids like this sort of thing. You only have to take a walk down by the family zone bit before any game to see that, and look at most of the other types of things kids these days are interested in (Moshi Monsters, and all these other figures that connect to games consoles).
Let's be honest though, the real reason is to give yet another 'connection' between the club and kids, to attach them to the club and basically then sell more merchandise - just look at how many 'Mighty Red' items are in the official store to see it must be a profitable part of the 'brand'.
As long as it doesn't start going beyond anything to do with the kids (drawing a line at being in the picture with the kid mascots before the game) then I'm not overly fussed. It changes nothing to how I've always enjoyed the game. If it goes beyond this to some of the silly shite mascots do at other clubs then yeah, it needs stopping.