delericho
Legend
Yes, because it served its purpose at the time, which was to get many more people playing and continuing with Dungeons & Dragons 3rd edition (and its 3PP off-shoots) than it would have if there had been no OGL. I personally believe WotC did much better financially over the 8 years of 3Es run than it would have otherwise without the OGL.
I also personally believe WotC made more money switching to a non-OGL 4E than they would have had they just released a 3.75ish 4E...
I agree with almost everything in your post, including your argument against a 3.75ish 4e.
However, what I'm much less convinced of is that going with a non-OGL 4e was a good idea. There's no reason WotC couldn't have opened 4e up in the same way they did 3e (and equally, of course, absolutely no obligation on them to open it up!), so it makes for an interesting question: would 4e have been better received had it been more open? Would it have been embraced by third-party publishers to a greater extent? Would Paizo have been more inclined to support 4e, rather than take the big risk that was PF? (a risk that's paid off hugely, but they couldn't know that at the time)
Indeed, I'm inclined to speculate we'd have seen a lot of third-party work done grafting the best of 4e onto 3.5e, and the best of 3.5e on 4e, and might well have seen a version of "Essentials" that was itself much more a 3.75e (but a very different 3.75e than Pathfinder) - and that to the benefit of WotC, the game, and the customers.