I think they have run their course. Women are doing so many other things nowadays, such as running and even starting businesses, politics, advancements in the sciences. I think objectifying them in pageants are losing their appeal. I can't tell you the last time I even watched a pageant.
And the ones with children in them definitely need to go. The time, energy and money that parents put into them would be much better spent on the child's education. I personally feel that too many of those parents are just using their children to get attention they want, which is just sad.