Yep,
The brand "Thiel" grew in prominence due to a specific, and generally rare, approach to loudspeaker design. The whole cache of that name was from the fans who appreciated that particular design. The idea of taking over the Thiel name to abandon the design and produce just another "me-too" speaker, expecting to benefit from the Thiel name is sheer insanity. (Actually, the word for this case is "ignorance" as anyone could see from who bought the company and interviews with those folk).
It’s like buying MBL and abandoning the Omani-directional technology to produce cookie-cutter life-style box speakers.