They can re-use the back end and banking relationships when moving to non-old-people markets, but I think they'd be better off using a new brand for cards for under-18, cards for normal people, etc.
Going 100% after the elderly market makes plenty of sense, though, for the future. There already are under-18 products, and elderly are kind of a unique market -- you don't want your parents/grandparents to be scammed, but they have every right to spend their money however they wish (since it's their money), unlike under-18 where it's usually money from parents.