Our kids can eat that cereal, but we limit it. We don't buy it every week. Parents need to start being parents and monitor what their kids eat. Pretty simple process. You buy foods that are healthy and nuturious. If they're eating good 3 times a day, a bowl of Frosted Flakes isn't going to kill them.
Of course, if your diet sucks, and you don't eat healthy, your kids won't either...