It's in the marketing because it's MARKETABLE! It's a great catalyst for success because it's a common, almost household, name amongst 30+ males and most basketball fans.
I vaguely remember watching the commercials as a kid, BUT I do remember. And, I mentioned Grandmama to the Post Office guy I BS with about stocks and he remembers. You admitting that you know who Grandmama is, by default, proves this marketing campaign can be successful cause YOU remember. That marketing idea has already been embedded in 100s of thousands of people.
Why not run with it? Retro is "in" right now. Best Pinky marketing I have seen in a looooong time, and I create marketing for a living.