Does this sign insult old people?

"London pensioners groups called for the road sign depicting old people to be scrapped because it is insulting. Age Concern and Help the Aged said that the hunched figure with a walking stick, above, should be replaced with a new image... “The sign doesn’t represent older people as they are today. There should be a generic sign that is representative of all vulnerable pedestrians, regardless of age.”

But does it necessarily represent "old people?" The stick figures depict impaired ambulation, or perhaps general infirmity, but not necessarily old age...