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I would sign up if they promise to release the games they get with the money into public domain.

That would be cool, but they probably only get rights to sell the games, not full ownership of all rights.

So we pay more. Many owners of very old good, but mostly forgotten, games must know that the rights are basically worthless anyway.

The IP hoarders are waiting for the day you'll be able to do a 1-shot remaster with AI and put the game back up on Steam again.

Not that it is any guarantee that it would sell at all or be successful.