Morally and ethically there should be NO Pledge whatsoever.
It is indoctrination. The purpose is to raise little nationalistic puppets who will go along with anything the government tells them.
Obviously it is not 100 % effective, but it IS effective. Adding God to the Pledge validates the idea that our country can do no wrong. God being perfect, the association implants the sense that our nation is too.
By the same token, it is an affirmation and validation of God's existence.
Children want to be part of the group. They don't want to be excluded ... outcasts. The Pledge pressures children into conforming.