So by your logic, jibernish, all Mattel should have done back in 2004 or so is break off a few hundred million dollars of their own money to start up an independent film studio and then make a MOTU movie themselves. "It's just THAT easy", is that what you're saying?
Gee, I wonder why DC comics never thought of that, instead of relying on WB for all these years? I wonder why Marvel comics spent the entire 1990s selling all their characters to every random studio under the sun, when ALL they had to do was just create their own movie studio? I wonder why THEN, "Marvel Studios" got sold off to Disney almost immediately? Surely they just as well could have remained their own entity. Why doesn't Robert E. Howard's estate start up "Conan Productions" or something, so they can finally get a decent Conan movie made without jumping through the hoops of dealing with the major studios? Why doesn't ANYONE just "start up their own movie studio" and do all the financing, development, production, advertising and distribution themselves? You make it sound like it's just a matter of Wish It, Want It, Do It.
I'm sorry man, but that simply is not how ANY of this works. I'm not trying to be a jerk, but you seem to have no actual understanding of how movies are made at the Hollywood level. There are a million reasons why nobody just has a spare billion dollars laying around to make their own film studio, and instead have to go through the bigger and already-established companies.
Lest we forget, once upon a time Mattel decided to venture outside of their comfort zone and created the Intellivision, to try and cash in on the video gaming "fad" of the '70s and early-'80s. They mostly took a bath, and ever since they've stayed in their lane as a toy company. Because that's what you do when you gamble with a few hundred million dollars and lose. You stick to what you know. They're not a movie production company, they make toys. There's wisdom in knowing your limitations.
We'll see if their new in-house team can crack the code and actually get anything done. But they would have been stupid to try that approach 20 years ago. You can't rightly say they made a mistake by soliciting all the major studios to license their IP because that is what EVERYONE has to do. Doing such a thing in-house is always a last resort, partly because of the financial risks involved. They're not gambling with Sony, Columbia, Fox or WB money now, they're gambling with their own, and if the movie fails financially it'll hurt Mattel that much more. That's just math. Look how badly the financial failure of the Jem and My Little Pony movies hurt Hasbro Studios, for example.
But by all means, if creating a start-up film studio is all just a matter of willpower and belief, I definitely look forward to being able to support yours once it gets off the ground. Lord knows I have literally nothing at all to look forward to from Hollywood anytime soon, so I would sincerely welcome some decent competition in the marketplace.

I'm rooting for you, brother.
On this, we pretty strongly agree! But I personally have no confidence that we'll actually get anything that much better. I'd love to be wrong, but I've been burned too many times. We'll see. Step one is Get The Movie Made, and I'll believe that when I see it.