To be fair, I don't think you're asking the right question. Think about it this way...
Say I own the rights to "The Amazing Joe" but either there's not enough interest in it, or I can't afford to manufacture it, or whatever the reason I can't justify releasing it right now because I don't believe I would make money.
IF I thought it truly worthless, then I might let it go to whomever wanted to license it...
But what if I think there is value... but just I can't afford to right now?
Then I don't just want to license it to anyone... Someone who does a poor job releasing it might kill my future value OR if I don't sell the license for enough money I rip myself off.
So... while there may be no "perceivable value" in me not releasing it... that doesn't mean I'm not considering value when I choose to keep the rights and not just let anyone take my toy and play with it.
A simpler example... I own a classic car but I don't drive it. You might say "hey, what's the point of owning a classic car that you don't drive?" and you might wonder why I don't sell it... but it might have future value for me if I think I might want to drive it one day OR maybe just no one has offered me enough to sell it. Just because I don't use or perhaps don't even want something, doesn't mean I should just give it away.
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