Speaking as someone who is not a fan of the musical (although I love the novel), the Henry Ford number is something I like, particularly the lines you quote. It certainly does not glorify Ford.
I suppose the musical might have made Ford even worse by simply giving us a line or two more that would be true to the historical facts. I suppose adding something like that to a revival would be OK. It would be significantly less disrespectful to McNally than things that have been done in revivals to the books of some other musicals.