I came across an article on John K's blog where he talks about executive's beliefs in the animation biz. One comment hit home...
"Execs think that characters by themselves have inherent value. "This character is worth millions". They never get that the artist who is able to create great characters is the thing of value.
Bugs is a great character, right? Then why hasn't anyone been able to do a good cartoon with him in 50 years?
Because they don't have Clampett, Avery or Jones to direct him. These guys created scores of great characters.
This obvious fact of history that repeats itself over and over again is completely over the heads of executives."