The nostalgia isn't there for me so I'm sure someone who grew up with the series would disagree with my take to some degree,
Oh probably. My contention is that there aren't enough such people. You can pretty clearly see it with 200x MOTU, as well; a huge majority of the fanbase for that series were already MOTU fans before it came out. They may like it. Some may even prefer it. But it doesn't have the same nostalgia tug. It doesn't seem like people of an age to have strong nostalgia for 2003 action figures and cartoons also actually collect toys to the extent of the '70s and early '80s generations.
And I think the same will be true for NECA's 2012 line.
Oh that line is almost certainly either doomed after the first six or seven characters - or is going to have to do something weird. Tons of the ancillary characters in that show were fucking gigantic. 2012 Turtles was, for that franchise, the beginning of the anime style 'make everything disgustingly enormous to the point that it's fucking stupid' era. Leatherhead, in a 6-7" line, would need to be like 20" from snout to tail. Slash will have to be a 10" figure. So would that fucking dog thing they tried to replace Bebop/Rocksteady with. Dogpound was it?
If this were McFarlane, I'd actually kind of expect that's why he wanted the license. McFarlane loves those gigantic figures so he can show off how much cheaper he can make them. But NECA? No fuckin' way anyone wants a 120 dollar Dogpound.
Not in any kind of defense for S7, but it’s a bigger company than just the TMNT lines it produces. If anything, that license will probably just expire or not get renewed or something. Fingers crossed. All of their nostalgia grab ‘80s cartoon lines seem to be evaporating. They still seem to sell a ton of shit I completely ignore. But someone seems to be buying it.
Take it with a full plate of salt, but my understanding from people I've spoken to is that S7 does make the majority of their money from Ultimates and ReAction. Which is why Brian keeps making Ultimates figures despite actively disliking the entire style of it. That's super important; Brian decides what S7 makes. Brian does not like fully articulated, high-detail, high-paint action figures. Period. And yet Ultimates keeps chugging along regularly. Even without insider info - it stands to reason it's making them a lot of their money otherwise Brian just wouldn't do it.
If we allow that Ultimates makes S7 a good chunk of their revenue, we have to deal with the idea that TMNT is the biggest brand in Ultimates, and nothing else has really come close except maybe ThunderCats - which itself is certainly winding down in terms of what they can possibly produce that collectors still want in enough numbers to be sustainable.
And if prices go up any more on ReAction, S7 will probably lose those collectors too. This is more a guess on my part, but I think S7 has really maxed out the price on what people buying ReAction are willing to pay for some of the most low-effort product currently in the collector space. Even then - TMNT is a big part of the ReAction line as well.
The way I undersatnd it, again plate of salt, is that stuff like most Ultimates and TMNT/Joe ReAction essentially funds all of Brian's little pet projects that S7 is also known for. Without the money makers, the entire company would either collapse or need to completely shift its business model.