The part that people keep ignoring is that the artists involved have literally come out and explained Cookie specifically, and that would normally be enough for most acts. Every other explanation is closer to fanfic at this point
They didn't write the song lyrics and they're going off a script given to them by their agency. All they're involved in is in performing.
It's honestly weird how so many of you want to brush this off like it's our overactive imagination. You only have to look at other artists in the same company to see how kpop has a history of sexualising children. Eg underage jungkook ab flash. English speakers who are familiar with the context of the slang are going to feel differently about this song than Koreans. These companies know what they're doing debuting teens and making them sing about looking at their cookie. But continue acting obtuse I guess.