Such pigeon-holers, lawyers. Obviously, in this the hour of their retirement, they all need some money and this is a nice licensing cash in. I feel nothing either way about it; certainly no worse than any of the other things you can have on your card. To anyone arguing that this is a travesty, a sell out, spit in the face of all that Punk is and was, I would say chill out. Bands, including and possibly especially (in addition to old African American bluesmen) punks, have been exploited for years. Compare their cultural impact and importance to their compensation. Then their compensation to the money made by record labels and salaries by the execs of the same off of their recordings and all I can say is good for them.
The Pistols are far from my favorite band.... but they did have talent.... some members did anyway... though it wasn't always musical talent.
Also that is one of the worst songs from the worst period in Iggy's career (i.e. the height of his substance abuse problems). Even Wild Child is better than that. Candy even, as cheesey as that one is.