One alternative is the Nintendo route. Another is the Hololive route, wherein they started a publishing brand for indie fangames which they actively support and promote on an official Steam store page. Another example being Touhou, a one-man indie franchise with permissive commercial derivative works licensing, which has become a cultural phenomenon in Japan and to a lesser extent overseas thanks to an absolutely vibrant community that has made millions of fan illustrations, tens of thousands of albums, and thousands of fangames, hundreds of which are sold on Steam.

If megacorps would stop being stuck up their own ass and completely irrational about how they exercise their IP rights, they would actually be able to benefit massively from allowing their fan communities to flourish. The status quo doesn't have to be this shitty, and we don't necessarily need to give credit to companies who meet the incredibly low bar of "not Nintendo".