Why doesn't WotC license older editions?

Oh, I don't know about that. There are people with multiple copies of things that wouldn't mind sparing one...
The problem is that by the time that request was put forth, common items had already been scanned and they were asking for rare and collectible books.
 

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Reminds me of reading about one of the big comic book companies (I think it was DC), deciding to reprint some of their early comics, and having to destroy their archival copies to get some clean scans.

Worth it to them? Apparently so as they did it.
 

It costs X dollars, minimum, to produce a halfway decent book. That's the case whether you're marketing to the entire market, or only a portion of the market. That split would more than counteract any small additional income--and it would be small, in WotC terms--to be found marketing to the followers of previous editions.
Also, I believe there is a lower per unit cost for larger print runs.
 

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