This same type of conversation occurs with some regularity on the motorcycle forum I routinely participate in. The resurrection, and resurrection attempts, of famous motorcycle marques like Triumph, Indian, Vincent, Ariel, and most recently Norton (and I read that the rights to the BSA name was recently purchased by an Indian company) cause similar angst as to the legitimacy.
The new Indian motorcycle company (owned by Polaris) uses terms like "heritage" in their marketing. The new company is related to the original company that created the heritage in name only. They're putting out a quality product that does the name justice, but the marketing hype is stretching the truth quite far. OTOH, the heritage associated with the name is why they bought the name in the first place. In the seventies the Indian name was slapped on small trail/street bikes manufactured in Taiwan. Not bad bikes, but certainly the cause of massive amounts of eye rolling in the motorcycle community.
The Colonel Coon example is pretty good. I've got a couple of Queen made CC's. They're a quality knife. I think they do the name justice. BUT I bought them as Queen knives, not because they said "Colonel Coon" on them. Frankly I'd prefer they said "Queen" on them. I won't buy a Bear made Colonel Coon, because I don't think it does the name justice. If I want a Bear made knife, I'll just buy one that says Bear on it.
OTOH, GEC does the same thing with the Northfield name. Rebranding GEC knives with an old, resurrected name. Others come to mind.
The key to acceptance seems to be to maintain the quality of the original
BTW, I believe Cattaraugus is owned by Case now.
I 'm pretty sure I've stopped making sense, so here's a pic of Queen made Coon
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