http://www.joystiq.com/2008/09/29/dave-perry-selling-earthworm-jim-was-the-dumbest-move-ever/
Yeah, I do think it was pretty dumb of them too. I loved watching the cartoon show, as a child.
I do think the series had a great deal of versatility as well..

Ahhh... Earthworm Jim. I loved the first two games (never played the 3D game though) and the cartoon growing up. The first comic I ever bought was an Earthworm Jim comic too. Glad to see I can relive some childhood memories here on GOG.