Their strategy as I understand it, was to move to a new license* in which they could have more control over digital offerings, and obtain royalties from TPPs. To this end, they invited major TPPs to hear favorable term offers under NDA, with the intention of obtaining TPP buy-in for the move to a license. Regardless of whether I agree with that strategy in the abstract, I don't think it is an untenable strategy for a company to pursue.
Leaving aside the introduction of the term "untenable" into the discussion, the offer was only "favorable" compared to what other people would have gotten with regard to the OGL v1.1 itself, not with the status quo established under the OGL v1.0a and the understanding that it was perpetual. To go from a more favorable status quo to a less favorable new paradigm (in terms of what everyone who wasn't WotC/Hasbro would consider "favorable") strikes me as being, well...unfavorable. Which is another way of saying suboptimal.
In as much as most TPP consumers get their product from the major TPPs, nor do I think it was a fait accompli that backlash would have been as strong if the major TPPs supported the move. It may have been at an acceptable level to justify the move to the better (in WotC's eyes) license. Keep in mind that WotC announced the license with royalties and new VTT policy in December 2022, and there was no significant backlash or boycotts, so I don't think it's so obvious--from a corporate perspective--that the OGL would have such an emotional valence for a significant number of end-users, who do not have a financial stake in it.
I disagree with regard to the backlash not being
fait accompli, though I think it's kind of a moot point because the idea that the major third-party companies going along with the OGL v1.1 always struck me as ludicrous; it wasn't that long ago that almost every third-party company out there turned their nose up at the GSL (both versions), and that wasn't as harsh as the OGL v1.1 was. That the OGL v1.1 and its attempt to kill the OGL v1.0a would go over like a lead balloon was in no way unforeseeable.
With the terms under NDA, WotC ostensibly had the ability to quietly retool the new license in light of resistance from the major TPPs, which they were apparently doing, since the 1.1 license was scheduled for release on January 4, but was not released at that time (Codega's article detailing the leak was published on January 5).
This strikes me as
extremely optimistic; based on WotC's responses to the public backlash, I'm of the opinion that
only such a move would have gotten them to drop their alternative OGLs (remember, we saw a draft of v1.1, then heard about a 2.0, and finally saw a v1.2 floating around before they scrapped them all). Recall that Linda Codega also reported that it was the mass cancellations of D&D Beyond which finally got WotC to give up the ghost in that regard. (Also, while Codega's article detailing the leak might not have come out until January 5th, it wasn't a total surprise;
there had been rumors since the previous November, though a lot of people, myself included, didn't believe them.)
So, no, I don't think we can judge whether WotC's strategy was optimal or not, since it never got implemented. TPP buy-in was not forthcoming, and then the terms were leaked, and the backlash ensued, before WotC had a chance to revise or abandon the new license. If you want to say that going forward with the 1.1 license despite not having TPP buy-in is a bad strategy, I absolutely agree, but WotC didn't do that. Everyone was angry for what they explored doing, not what they actually did.
*Technically called "OGL 1.1," but since it was not at all an open license, I decline to call it that.
Again, I disagree here, though I'll note again that this strikes me as a tangent of a tangent (of a tangent). While the entire thing is a counterfactual, the circumstantial evidence as I see it suggests that feedback from a select group of third-party publishers wasn't going to move WotC out of their position; it might have changed a
few things with regards to the specifics, but I believe that whether or not the leaks happened, they were always going to put forward a new, more-restrictive license. Likewise, I think that the difference between what they "explored" and what they "actively tried to do" is paper-thin to the point of being nonexistent. They stopped before they "actually" revoked the OGL v1.0a, but only barely.