"I saw a local high school production of this show earlier this year (in Michigan where I live) and I just don't think it's a great show (especially for kids)..."
It was never a show to be performed by kids; thinking that it could be, merely because the characters look like children, is plain old fuzzy thinking. The Peanuts strip was always about the contrast of children thinking and talking like adults, specifically adults of a certain semi-neurotic mindset popularly spoofed in the 1960s.
And then, of course, the show as licensed now is incredibly unsophisticated, one-level, and just unwitty; it's a very far cry from the original piece (which was sophisticated, multi-dimensional, and full of wit).