Sure. i wouldn't suggest stocking it in the children's literature section (although i think you would be shocked how racist some books aimed at children can be once you start looking for it, including many written not just long ago but in the last 30ish years).

However children aren't the only people who read books like this. Dr Suess is one of the most influential children's authors. All of his books are certainly worthy of study from an academic perspective due to their long lasting influence.