I still dislike the licenses, I just don't complain about them because it adds nothing. But the old PM is gone and is not coming back, and I wish it wasn't so. 
You couldn't have said it better, I completely agree... 
I think PLAYMOBIL is currently in a similar spot where LEGO was in at the turn of the century, when it entered the licensing era AND struck on a path of wild data-driven innovation that pretty much bypassed it's very essence: The Brick.
It was the time of Jack Stone, Galidor, eXplore (a rebranded duplo) and a number of other failed experiments, heralded by a management that did not understand or value the core element of the LEGO brand, and relentlessly tried to jump into every market segment with a "NEW LEGO" offering. As a result, customers did not recognize it anymore as the LEGO they valued, and sales dropped steeply.
On the verge of bankruptcy, the company was forced to go back to basics and with that rediscovered their Brick. They returned to being a construction toy foremost and resumed some of their classic lines again. It not only saved the company but resulted in an unimaginable come-back.
Such a scenario is still possible for PLAYMOBIL too.