I think I was a bit too dismissive of this style back when I first saw it in school because I was really focussed on stuff that was new and not as derivative as this seemed at the time. I still think that a lot of animators fall into the trap of never breaking away from the "rules" (whether it be for character designs, writing, backgrounds, or the actual animation style), but animation is a fiendishly difficult and time consuming art form, so I can't hate on them too much.
Not that my stuff is so awesome and original anyways, haha.
I warmed up earlier this week with a little simple morph done in Flash featuring a magical tape dispenser that turns into an orange coffee mug whenever it wants to, which just happens to be right now. Hope you like it: