The shows/concerts I go to aren't like this. I would not go to one of these shows, personally... and that includes a Hannah Montana, meant for kids, show. As long as you're not taking your kids into a dangerous situation, I see nothing wrong with taking them to concerts... especially outdoor ones.
For example.. I love Steely Dan. This would be a concert that I'd totally take my kid to. They have some suggestive lyrics, but they're poetic and it would go over my kid's head.
I do know that while I love Ryan Adams, and my DD is welcome to listen to most of his songs, there are a few that she shouldn't hear. In concert, while he puts on an awesome show, he likes to drop the F-bomb on occasion. This would make me uncomfortable with my kid being there. She does love Ryan Adams, though.
I'd totally take my kid to a Crosby, Stills and Nash show.... or Jack Johnson, like Pbiddy mentioned.
Concerts aren't the problem. It's the performer that is or isn't.
So, there isn't a big pot-smoking crowd at the concerts anymore, especially the Steely Dan and CS&N?

Regardless of that, it seemed innocent, non threatening, whatever. Today however, imagine someone like Miley singing that. Think people would be in a bit of an uproar? Of course, back then, performers didn't need to sell themselves on sex either, but actually tried to sell records on talent! (And no, I wasn't really talking about the Star Land Vocal Band in regards to the talent thing)! 


We all make mistakes.