What is the big deal with them licensing their brand? It's not like they're claiming ownership of every video that has a reaction, just a specific format for reaction videos. The revenue share and terms is debatable (endlessly no doubt), but I don't see what they're doing as inherently wrong. Maybe the steps they've taken has given them extra power they may abuse in the future, but that's something to get up in arms over if they do decide to abuse it.
They have big ambitions, it's ballsy to try what they are given that a negative reaction was inevitable (which puts their brand in jeopardy, at least for the short term). It's not something I would have done in their position, but as long as they act in good faith, good luck to them.