There's another huge difference between Peanuts and Calvin and Hobbes; Watterson never really went in for licensing the crap out of his characters the way Schulz did. What little the very private man does say on the matter is that turning his characters into corporate shills cheapens them in much the same way that not leaving the party after saying what he had to say about the characters lessened the impact they have. He even did a Sunday strip that discussed his feelings on the issue; after about eight panels of Calvin in monochrome talking about how color had somehow vanished from the world, he'd snapped back to our reality whereupon his father accused him of only seeing things in black and white. Calvin shot back with a testy "That's the way things are!!" Schulz, on the other hand, had less of a problem with making a buck off of things; this is probably because he was slightly more social and, if his deal with Met Life in which they'd sponsor some cause he championed on the QT if he let them use Snoopy in their ads, a bit of a better businessman.