Sure. i wouldn't suggest stocking it in the children's literature section (although i think you would be shocked how racist some books aimed at children can be once you start looking for it, including many written not just long ago but in the last 30ish years).
However children aren't the only people who read books like this. Dr Suess is one of the most influential children's authors. All of his books are certainly worthy of study from an academic perspective due to their long lasting influence.
I have literally just had the experience of stumbling on one of these racist dr Seuss books while reading with my kids, and I can tell you that I would have at least wanted a warning. It’s just not what I expected, and not something I would have wanted to expose my kids to. Which is kind of a shame, because scrambled eggs super is (aside from the overt racism) an awesome example of seussian prose.
However children aren't the only people who read books like this. Dr Suess is one of the most influential children's authors. All of his books are certainly worthy of study from an academic perspective due to their long lasting influence.