Couldn't they just have said that the entirety of Korra never happened, apologized for fumbling the ball badly (to be fair didn’t Nick keep jerking them around with how many seasons they got?) and just say we will do better this time. When your main character is just the worst is there really any shame in Thanos Snapping it into oblivion? At the very least some mea culpa will at least make some people willing to give it a shot. Granted leaked material already tells me this will likely suck beyond belief, but still.
They can't because, whether we like it or not, Korra does have a fanbase and one that has only gotten larger since the Netflix push.
I know it is easy to brush it off as just woke people, but I do know normies IRL who were really into it. Hell, my brother got into Avatar during the Netflix push, and even though he is as normie as they come (politically slightly right / Ben Shapiro right) I remember him telling me Korra was the better show. Not sure if he still holds that opinion, but I do remember him being into it. Also used to take martial arts and I remember students there going off about how great Avatar and Korra are, this being way before the "Woke" era.
Korra is one of those shows where I can honestly see how, if you really just didn't care about Avatar lore, you'd really enjoy it. The show had a lot more action and was a lot more experimental in the kinds of bending techniques they were doing.
'Course not.
When was the last time anybody's looked at a whole series, owned up to its poor quality, and went "Yeah, that was shit, don't worry, none of it's canon anymore."?
Technically Sonic has also done this numerous times, but Sonic also re-introduces its poor-quality entries into canon as well. 06 was forgotten, and technically its own universe that was a punching bag for the series, then Sonic Generations made it canon. Boom was also made fun of and forgotten, till randomly Sticks gets mentioned as being part of the main canon. Hell, even the movies operate like this, where ugly Sonic will be dead-and-buried till he is randomly brought back.
Also what is the criteria for owning up? I feel like a lot of franchises just move on and act like the previous didn't happen, maybe making slight references to it. Technically Shrek 4 sort of falls under this category as it seems to just act like Shrek 3 never happened outside of the babies.