I don't think it's bad. Like you said, it's only a phase. Kids grow out of the princess phase eventually, it isn't anything serious unless the parents spoil them silly. I mean, if I tried to act like a princess and get everyone to serve me back then, I'd get told off by my mum.
It's a children's movie. Like you said, the kids won't be able to read the morals of the story because they're too young. Similarly, I don't think they're going to be dwell into "I'm the centre of the world" much either. It's just a little innocent fantasy that kids go through, which I think is good thing. I don't like kids who seem to recognise all the morals and everything and being "mature" about stuff when they're still very young. Everyone needs a naive childhood phase.
Besides, I don't think the Princess classics were all that bad. Cinderella was certainly not spoiled, Snow white was bullied by the evil Queen, Jasmine had a dad who was controlled by Jarfar, etc. Each Princess had their own problem and wasn't portrayed as a character who got everything their own way. I don't remember going through this "I'm the centre of the world because I'm a Princess" phase... I just remember going through the "I wish I was a princess so I can wear pretty dresses" phase. D:
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