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The point of trademarks is to avoid market confusion.
MTV didn't instantly eliminate all of it's programming and created new programming overnight. They had reality TV shows playing alongside music videos in the 90s. There are some people that might like a reality show that was on MTV when they were playing music videos, then suddenly the name of the company changes because they don't play music and those people can't find the show they like? Even though it's still on, still being made by the same company, but under a different name because curmudgeons don't think it's appropriate that a company with the letter M in it's name isn't focused on music?
Trademarks are about people being able to know which company they're buying from. The name of the company is relatively arbitrary. You could start a company making computers and give it an arbitrary name like I don't know "Apple". then people will associate the quality of the computers with that arbitrary name "Apple". Well you could if someone didn't do exactly that already. It's not so much the name it's the consistency that matters most.
And many names we just kind of forget their origins because they're irrelevant to what the company now does. Does Motorolla have to change it's name because they no longer make record players for cars? Does DC have to rebrand because very few of their comics are about detectives? KFC can't call themselves that because a vast majority of their restaurants aren't in Kentucky?
I'd actually go the other way if anything. Make it illegal for a company to change it's name. Facebook promotes eating disorders to teenagers? Sorry you aren't changing your name to Meta, you can't do bad shit and erase that negative brand association by re-branding. You want your brand to be considered good? Then do better.