Marvel Comics tries to keep things broadly consistent with past events, and when changes do become necessary, they favor retcons and reinterpretations and additions to past lore, over simply rebooting from scratch. Even their most reboot-y event, 2015's Secret Wars, didn't delete any substantive portions of the past. And Marvel Comics seems to do fine. (They certainly seem to be doing better than DC Comics, which reboots so often now that repetitive reboots have become part of their lore...)
Until now, D&D 5E largely did this as well, and it's been the best-selling edition since the 1980s, and possibly the best-selling ever.
In short, while lore certainly can become a straitjacket, it's also totally possible to have a win-win position, where lore is respected but the IP still thrives. Though it's certainly harder than doing a reboot from scratch, of course...