Ugh...that article...ugh. Not saying the film isn't worth watching as I enjoyed it (even took my parents to see it, the last film they saw in theaters), but I take issue with the article anyway.
I wouldn't consider the film a satire. Not that it isn't funny, but to me the funniness is built on character and situation in the film (for example the Brooks Brothers dialogue between Cranston and Khan).
"It’s written as what a child’s perception of a tough guy would be, a clever interpretation of a character originally created as a “darker” take on a costumed character that was still aimed at children." This line is almost nonsensical, but if I parse what its saying correctly, its wrong. The character wasn't originally created as 'a darker take on a costumed character that was still aimed at children', he was created because Street & Smith wanted a radio show to advertise their Detective Stories Magazine and the narrator they created proved to be popular (people showing up at the newsstand asking for that 'shadow' magazine). Note that the Shadow predates what we think of costumed superheroes (5 years before THE PHANTOM in comic strips, 7 years before SUPERMAN in comic books) and would only have literary and film antecedents of people with disguised personas (Scarlett Pimpernel, Zorro) and a few literary proto-superheroes (Hugo Danner from Wylie's GLADIATOR), with possibly the most direct antecedent being from French cinema (Judex; however I'm not sure how strong that connection really is). We can argue all day long about who the pulps were aimed at, but I wouldn't say the were particularly aimed at children; Detective Stories Magazine almost certainly wasn't; a hero pulp like The Shadow most likely was aimed at teens and young men, not kids specifically (even if kids ended up reading them). Many pulps were probably too lurid in subject matter for kids to read with their parent's knowledge.
"Margo Lane ... easily sees through Baldwin’s outwards personna (sic) and uncover (sic) his secret." Because she's latently telepathic. Not saying the character isn't good or anything, but the sentence implies a savviness the character didn't have, particularly given that she's confused about what is going on for much of the film. That said Baldwin and Miller sell the connection and generally speaking the cast is great (Tim Curry, Ian McKellen, and John Lone are mentioned in the article, but Peter Boyle and Jonathan Winters (plus a number of good actors in smaller parts).
"With Highlander the precision of the sword fights made sense given the film’s focus on ancient warriors, and in The Shadow it is effective given the more primitive early television stunt work the film is emulating." - Wut? Where did television ever enter into this? At worst it could be seen as emulating the work of earlier film serials (there were 4 Shadow serials) and maybe 30s Crime Drama films (2 Shadow films were made in the 30s). Not really sure where the television comes in at (early television didn't have the kind of stunt work you might see in the mid-to-late 50s and most of that is because of the studio serial production units becoming tv production units).
"...the credits song “Original Sin” from Taylor Dunne surprisingly fit within the nostalgic soundtrack." It's Taylor DAYNE. Also points off to Universal for allowing the Original Sin music video to show the end of the film. But the soundtrack is good (just don't know why anyone would okay the end of the film footage for the official music video).