What's irritating here is how incredibly narrow and inadequate Disney's understanding and use of IP is, a fairly major issue for a company that exists largely as an IP silo. IPs are not created only by films, and film-to-theme-park is not the only direction a successful transmedia exchange can occur. Blizzard Beach is an IP. Why not produce a Disney+ movie or series about the tropical community that received a freak snow storm? That expands your fundamental stock of IPs rather then narrowing it by making it another iteration of Frozen.
Personally, I prefer more unique, site specific IPs largely because they make individual locations and experiences more unique - and that goes for the merch related to those sites, as well. I'm a lot more likely to buy an Ice Gator figure then another piece of Frozen stuff since the former is tied more closely to a specific location and experience, the whole point of a souvenir.
Not to be monotone, but Universal has shown a real understanding of this principle. They have been working hard to create IPs related to their seasonal events. HHN has produced a plethora of highly marketable IPs - the icons - who move bushels of merch and build guest loyalty. This year they added Lil' Boo, a more family-friendly icon. For the resort's holiday events, they have taken the figure of Earl the Squirrel from an esoteric inside joke to a major figure plastered on merchandise year-round, appearing as a costumed meet n' greet, and peppered throughout the park. Universal thus uses its parks to grow its stock of IPs rather then to narrow them, as Disney is doing here. You would think the resort that saw massive lines for a Figment popcorn bucket might grasp this.
Finally and most subjectively - the Frozen franchise, despite massive overexposure, has not been managed well. Frozen 2 was garbage, one of the worst animated films Disney has ever produced. The appearance of the off-putting little snowball men doesn't charm me, it reminds me of how badly they dropped the ball on the franchise
