I'm A Banana
Potassium-Rich
But if another studio recut the same footage into a 30-minute television spot, and marketed it as their own product, they would likely be facing a lawsuit and blacklisting from the entire industry... regardless of whether or not it was a "good idea".
That's because movies are not open content.
If something public domain was recut into a 30-minute television spot marketed as their own product, no one would really care, because they're open -- anyone can use them.
The information in the PPH was open -- anyone can use it. No one should really care. I'm pretty sure WotC didn't really care.
I don't think they're really "fearing" either. They are simply taking what would be described by most as minor preventative measures to protect their work from outright piracy. 3PPs will be able to work and flourish under these restrictions as capably as they did under 3.5, and possibly moreso, since the nature of the SRD allows for the potential inclusion of future products as well without having to worry about taking additional measures.
Well, regardless, I agree that one of the major reasons they're taking these measures is out of fear of piracy. 3e had no such paranoia. But the PPH isn't piracy by any means.