I do NOT like the cover art, though I don't doubt that that is what is being planned by Disney at this point.  Here is why I don't like it:
-The Genie should not be the focal point!  Damn!  The movie is called 
Aladdin!  And while some may argue that is he is, the fact is that when he is the biggest character on there and at the top holding the Aladdin title, he 
is the focal point.
-The blue in the cover is not rich like they other platinum cover colors.  Beauty and the Beast had a rich blue cover, with different shades of blue kinda swirled in, same with the Lion King which was a rich orange, and Snow White with the purple, which may not have been so rich, but was still kinda swirly with different purple shades.
I think Aladdin should have a rich red backround, swirled with some lighter red or orange, to match the others better.  I do not like the blue.
-It doesn't scream out quality to me.  The others in the series were painted in a very distinct way, and while the Aladdin cover may resemble them a little, it quality seems to be poorer, almost like it was the direct to video sequal, while the other platinums were the Feature Animation picture, if that makes any sense.
I'm not saying it's all bad, but there is definate room for improvement.
Oh and about the whole 
MMB and 
Tangela discussion.  The fact is you're both a little right.
The fact is, the covers do need to be something that attract kids 
as well as adults.  I don't think the covers need to be all stylistic, perhaps for the collector's editions (that would be perfect), but at the same time, not everything needs to be dumbed down for kids.  They can appreciate a nice simple cover, they don't need a cover with too much going on, and while it is what's on the disc itself (the movie) that counts, it doesn't mean the cover shouldn't also be enticing to look at. 
