I suppose - from what I've seen of it, though, the show's strengths came largely through its willingness to break away from from its inspiration when appropriate, to not just be 'Oh, hey! Aren't the Looney Tunes just the greatest? And we're just like them, but younger!' over and over again. I mean, Buster and Babs and Plucky may have been younger versions of Bugs and Daffy, but they're very distinct characters in their own right.