High School Musical is like Crack for kids though, it's one of Disney's more valuable properties. Advance "listens" to the "High School Musical 2" soundtrack have drawn big crowds nationwide. Outside of being the top selling album of 2006, the thing seems to just suck in little kids.
http://en.wikipedia.org/wiki/High_school_musical
So, yeah, remaking footloose seems silly, but if they are trying to do it and aim at the pre-teen/early teen crowd (8-15) this movie could be a hit.
The studio is thinking: it doesn't even have to be very good to bring in a crowd of the right audience.