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Would be cool but with how IP law works (USA based) they could lose control if enough derivative works come out where it could be claimed its public domain. Failure to protect the IP can cause forfeiture.
But fuck the billion dollar companies, if you arnt using it just give it to us. Give up the Chrono Trigger IP Square so we can have that awesome 3D remake that was being worked on long ago.
Failure to protect a trademark can cause the trademark to become genericized. I’m pretty sure that doesn’t apply to everything. Velcro fights hard for people to call their product “hook and loop fasteners” because they don’t want other companies to sell their products as Velcro, and it’s also why Nintendo was fighting for people to stop calling other consoles Nintendos in the 80’s and 90’s.
I don’t think you can genericize Mega Man, for example. Nobody’s going to call other types of games Mega Mans. In this case, it’s a copyright infringement, whether sanctioned or not. They’re not going to lose their trademark over Mega Man for this.