Actually to say Id has not been relevant is only a half truth at best. A good portion of the mainstream industry did not pass them by, a good portion of the mainstream industry bought IdTech 3/4/5 and simply made better games than Id has.
Id is an engine developer mostly at this point, expecting good games out of them is something of the long past and to be honest they were only "good" games back then because they were the first games of their type.
Zenimax wants an engine developer to use its legacy IP's to increase stock point value, Id would have been better served not being absorbed by anyone and simply continuing to sell their engine to better game developers.
Point in case, Quake 2 was pretty good, Half Life redefined the entire genre, and Half Life was using a heavily refitted version Id Tech 1 from the original Quake, in its original form. A better developer used a lesser version of Id's own engine to eclipse Id's own IP's.
Its not as if Id hasn't been profitable on licensing rights alone over the last twenty years, though with the proliferation of Unreal, CryEngine and Source and of course the inestimable Unity, they're probably not as relevant as they used to be.
Id is an engine developer mostly at this point, expecting good games out of them is something of the long past and to be honest they were only "good" games back then because they were the first games of their type.
Zenimax wants an engine developer to use its legacy IP's to increase stock point value, Id would have been better served not being absorbed by anyone and simply continuing to sell their engine to better game developers.
Point in case, Quake 2 was pretty good, Half Life redefined the entire genre, and Half Life was using a heavily refitted version Id Tech 1 from the original Quake, in its original form. A better developer used a lesser version of Id's own engine to eclipse Id's own IP's.
Its not as if Id hasn't been profitable on licensing rights alone over the last twenty years, though with the proliferation of Unreal, CryEngine and Source and of course the inestimable Unity, they're probably not as relevant as they used to be.