I thought that the article argued that Lego is an exception to the rule in that it does inspire brand loyalty.
Also, what investors mean by brand loyalty is fairly specific: A customer who buys into one brand continues to buy it for years or decades.
Kids are fanatical about the "in" brand of the month, but will drop it without a thought as soon as a new trend is "in".
How many kids are tripping over themselves to get the latest Spin Master toys? Most probably wouldn't even recognize the name. Just a couple years ago, stores couldn't keep their Hatchimals line on the shelves. None of that excitement carried over to their other products.