Interesting the way they adapt it to modern tastes; they deal with the 'uncoolness' of he-man types (at least among the intelligentsia) by basically making him the fighter in a D&D party ('master of magic'? 'master of the wild'? 'master of technology'? 'master of demolitions'? so we've got a wizard, a druid, an artificer, and a saboteur-subclass thief, more or less). The visuals, with their large eyes and multicolored hair, are anime-influenced. The bit of ironic distance as to whether he actually turns into a different person when he turns into He-Man is pretty funny too (and may wind up serving as a metaphor for puberty).
Actually I like it; at least Adam gets to be part of the team. Though I am way out of the target demographic, as you say.