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Honestly, I don't believe they lost the rights to the ponies at all. It makes zero sense that they would lose everyone except Spike (right down to his exact G1 design) and Applejack.Also, they are licensing shirts with G1 Sundance, Firefly, Gusty, and other on them even as we speak, they released the Collector ponies and Rainbow ponies retro sets not long ago, and the Dolly Mix ponies also had a wide range of G1s.
As you know, Hasbro no longer has rights to most G1 ponies, the exceptions being ponies who have G3 counterparts (like Applejack and Moondancer.)G1 ponies fell prey to what is known as trademark dilution. This is when others use your trademark for commercial purposes without your permission and you don't defend your exclusivity to it. In this case, when Disney bought out Marvel Productions and started using ponies for their own purposes, Hasbro not saying anything cost them the claim of trademark (this is my guess.) There are also other MLP licenses floating around.
If they have the trademarks, then there wouldn't be a point. However, I can't imagine why they wouldn't want use them. They have them, they have to defend them. Little girls would buy them because they're ponies and older fans would love them. It just doesn't make sense.
I am curious to know if there is a way to search the US trademark database and see exactly "who owns what". I wonder about some of Hasbros Transformer characters too (e.g. "Autobot" Ratchet). does anyone know of that is possible?