It's an interesting thought. And I've actually seen games in the wild where something kinda-sorta like this seems to have happened. Not, MMOs. But in some cases

It's an interesting thought. And I've actually seen games in the wild where something kinda-sorta like this seems to have happened. Not, MMOs. But in some cases old PC or Mac games, now being rereleased, decades later, as nostalgia plays. In cases where there was an IP license involved in the original game, the rereleases are sometimes (but rarely) genericized. Your hypothetical Chewbacca the Wookiee becomes Grordor the Tree Troll, and his Chewbacca sprite is replaced by a bit-riddled rendition of an orangutan with a crossbow. Or what have you. Of course, every license is slightly to significantly different from the rest. So no telling which games involved more liberal or more restrictive terms within their original agreements.