What Happened to Ken?

And while we’re on the subject of makeovers, what is happening to Ken?
Barbie’s beau has had to endure some humiliating looks since he arrived on the scene in 1961. Of course his function is primarily as arm candy for Barbie, and so his primary job is looking good in a tux or whatever best matches her endless variety of outfits. When Barbie was a bride, he was the groom. When Barbie was Dorothy (and the Wicked Witch), Ken was the scarecrow (and the tin man and lion).
But Mattel has announced that Ken’s latest incarnation is “Palm Beach Sugar Daddy.”
I am not making this up.

Mattel says that this is intended for adult collectors, not children. It will be available in April for $81.99. Still, there is something louche and just plain creepy about this.