I suppose you could. But that's not the only famous kiddie movie in the movie houses. A good teacher could even have made a lesson out of this, by asking the students afterwards to consider and discuss about plot, dramatic moments, characters. Such a treatment might have made a second viewing of the film into an educational experience.
The really unredeemable thing here was for the teacher to do something (bootleg a copy) that had a student giggling "my teacher committed a crime."
When I took an elective film criticism class, I assumed that we would be doing just that. Sure, we watched a movie here and there, but they forced us to read (and write critiques of) shakespeare. I couldnt make heads or tails out of the "Ye Olde English" language of it. Didn't understand a word.