So it's fun, but...
In fun parks it may be quite accepted to let the kids 'handle' such a beast. The kids want it, the parents pay for it, the park owners are happy - so EVERY park MUST have such 'attractions'.
In this case you might even pose the question who of the two (kid or croc) is more frightened by the whole procedure. (I wouldn't like to play the role of the croc!

) In any case, the whole affair is quite safe for the kids, or else hordes of advocates would have put an end to such a performance years ago!
But just the same, as a Biologist I'm strongly against such 'amusements'.
After all, these animals are living creatures who have also a certain right of dignity. For me an animal is only beautiful in the wilderness or perhaps a big zoological garden with near-nature surroundings for the animals. But ok, so I'm biased and a grumpy ole professor.
But there's another point of view: I wonder, if such park managers ever realized what could happen, when a kid (who 'played' with such an animal) sees a similar one out in the wilderness and thinks this one would be equally cute to play with. I leave the more or less gory result to your imagination!
Every year kids (and grown ups, too) are injured or even killed by bears, because everybody knows Yogi Bear, circus bears or TV-series bears like Ben - and they are sooooo nice and cute and harmless, aren't they?

Now if you degrade a big reptile to an amusement gadget, it's even worse. Reptiles are stony-faced, you have no idea what they are thinking and what they are going to do in the next second. (Mammals have at least some facial expressions which can be interpreted.)
So Paul, I'm on your side. I wouldn't let my grandchild ride such a beast. Or at least I would make every effort to show the kid the difference between such a violated freak-show animal and the real dangerous beasts outside in the swamps and bajous.
Ron