Are we about to get D'James Bond? Purple drank martini mufuggah.
(media.scored.co)
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It only hurts the legacy of an IP if the IP must continue to have new creations. Where they must decide if that shit is still canon, go through the controversy of deciding that, and work around it.
A "finished" series like LOTR will not be tarnished by fanfiction trying to attach itself to it because its completely ignorable once it stops being relevant.