I see what you're saying..I think it's a bit reaching though.
I wouldn't buy it for any children but there are plenty of adults who love POTC (I may be biased because I loved all of the movies and went as Jack Sparrow to a costume party before).

I will agree though that taken out of context the noose could represent other things for the reasons you named and knowing Disney and their fear of controversy and reputation for overprotecting their image I am also surprised that they would let this fly.

I don't know much about "pirate" history/roots but the noose is also representative of that culture so I don't think it's inappropriate.