There will never be another Blizzard North game but there will definitely be another Blizzard game and the outcome is actually the same as back when blizzard north wasn't disbanded because it just doesn't matter since it's blizzard anyway.
This is like saying there's no difference between EA and Westwood. One may have bought up the other, but fans will always make the distinction between the two.
It should also be noted that Diablo 1's development was mostly complete at the time that Condor was purchased by Blizzard and rebranded into Blizzard North.
That's what people said about Black Isle. And yet, against all logic or reason, there it is.
It's true that the trademark owner can always recycle the name. However, in the case of Blizzard North this is unlikely since it was always meant to evoke the trademark of "Blizzard".