Obsidian spent over a year trying to broker a deal for BG and wasn't able to get a licensing agreement. I highly doubt WotC/Hasbro just said "Hey just kick us 20% and do whatever you want."
That's exactly what they do. Have you not seen all the absolute garbage D&D games out there? Idle Champions of the Forgotten Realms? The chinese MTG crap? They don't care as long as they get their cut, and if something turns out good they make money off it by including it in modules / writing a book about it.
As much as I like what Obsidian did, they had a loooot of issues as a studio. I'm not surprised a deal didn't go through when they cut ties with their star writer.
