I don’t know how I feel about a show following a live action shape shifting Zap Brannigan. Do they play it straight and end up with a character who’s supposed to be pathetic or do they satirize the satire and make an over the top mess?

I think you’re reading too much into intent here. The only reasoning that goes into these decisions is target audience. Who will buy what you are producing? When most of the comics that you mentioned were written, the perception was very much that their readers would be boys.

If there’s anything to be mad about, it’s that focus testing and demographic targeting makes for shit entertainment. It means companies are trying to make something that sells instead of trying to tell a story.