There are multiple things I dislike about it.
The type face, save for the Kermit M is very VERY bland. And in a overly simple black font color as well... it just doesn't pop.
Secondly, I dislike the Kermit M completely. Unless the other letters were other characters, then it would be cute at least.
Third, I don't know what I hate more, the word THE or the Disney over the logo. They have been doing a great job integrating the brand, but keeping it a separate entity all its own. I'd hate to see the Disney logo over the word Marvel.
Now, if I had a say, I'd love to see something like Disney presents the Muppets (created by Jim Henson) and at least bridge that together... not saying "Jim Henson's Muppets" or any relation to the Jim Henson company... just a little side thing that says "Created by" similar to "Nickelodeon's Spongebob Squarepants (created by Steven Hillenberg)" That does NOT imply ownership, but rather gives credit to bother the true owners and the one that came up with it.
And frankly, the classic Muppet Show font works WONDERS. It's just a great looking showy font, it's been around forever, and it just gives a bold impression. This is just less than impressive.