The ones that remember the old "toy" arrangers are old people like me. Do they still even make them?
Yes! I put the PSR-E series, Roland EX, and Korg EK in this category. Casiotone too of course. I would tell a parent to rob a 7-Eleven on the way to the music store, if necessary to afford MOTL or better, before I would endorse them to buy one of these toys for their kids. Especially with excellent arrangers like the BK-5, Pa500, etc. available at very reasonable prices used.
What I grew up with was extremely limited, and it limits me even today. I'm adamant that the functionality of the instrument should NEVER be a limit to a child learning, exploring, and being inspired.