Does your hope extend to OD&D, Holmes Basic, Moldvay B/X, BECMI, AD&E 1E, AD&D 2E, and 3.XE?
How has this not been the norm for WotC - and any other company, for that matter, that offers a new edition of a game - that they "create a game, generate a fanbase, and then abandon it?"
Is 4E different in this regard in that it deserves perennial support and previous editions don't?
While we're at it, should a company such as WotC not offer new editions and just stick with one version and forever support that?
Very few board games and wargames are so slash-and-burn as the RPG industry. I observe things are shifting, though, with WotC and the industry in general.
First, we have what began with the 1E reprints. I severely doubt these premium reprints would have expanded so dramatically had they not been profitable. We also have a large amount of previous editions supported in pdf format.
So, all of official D&D is making money. I think businesspeople in WotC have realized that leaving a whole system to the retro-clone market alone is dumb.
4E, a system which btw I don't like at all, will continue to be played by its fans just as we have ongoing 1E campaigns today. If I owned that system's rights, I would damn well serve those customers with the best material possible even after 5E debuts.
We also have 5E, which is the first attempt to combine new and old. I don't like 5E either, but I support the concept, and want to see it do well. Naturally, the focus will rightly be on the new. But occasional new material for previous editions, especially employing its star designers, would make money. Everybody wins.
Also, look at Gygax magazine, arguably the leading publication of its kind. The philosophy of Gygax magazine is, I believe, the way of the future - wholistic support of the hobby.
Whether WotC does , or is able, to have a legacy edition department, of course I've no idea, but the strength of Pathfinder and the OSR shows a vibrant market for systems they have, until recently, largely abandoned. And regardless of WotC's business sense, I feel sure that THIS is the Golden Age of th RPG, not the 80's or 90's.
Cheers,
MJS