I'd honestly and totally hate the idea of a crummy CGI Muppet Playhouse Disney show. Baby or no. If they were to make a MB show, they'd need to make it as close to the quality of the original as possible. Treating preschoolers as an audience, and not the way most of these shows treat preschoolers. I saw part of a Mickey's Clubhouse... When I heard Mickey say "Who's That?" in a baby-waby voice, I died a little inside. I'd hate for Kermit and the rest to be subject to the Dora theory of education... talking loud and slow and answering their own questions.
The thing that made Muppet Babies better than it should have been was the fact they took a preschool-Kindergarten audience and made jokes, references, and subjected them to mild peril (even if it was imaginary). That's what made it memorable for me. There are some great things, again, like Curious George (and I heard positive things about Wow Wow Wubzy) that can teach AND entertain. I want to see more of those get made before we see any new Muppet Babies series on TV.