> All WotC really has going for it at this point is the D&D name and player goodwill
... "All"?
Branding is everything in this industry. Artwork and game mechanics are commoditized. The barrier to entry for new RPG systems is, and has been for decades, zero. But people don't buy anything else, because everyone likes playing "D&D".
The fatal mistake here is IMHO exactly the opposite: they torched their brand (the valuable part!) trying to protect their margins from low-uptake third party vendors who were never a threat in the first place.
... "All"?
Branding is everything in this industry. Artwork and game mechanics are commoditized. The barrier to entry for new RPG systems is, and has been for decades, zero. But people don't buy anything else, because everyone likes playing "D&D".
The fatal mistake here is IMHO exactly the opposite: they torched their brand (the valuable part!) trying to protect their margins from low-uptake third party vendors who were never a threat in the first place.