They aren't relevant so Japanese publishers won't trust them with their licenses.My suggestion for Media blasters is to pick up some bandai DVDs to distribute.
The only recent relevancy they had was picking up Squid Girl, but from what I've heard they haven't exactly done a great job with it.
Plus, although some fans love the classics and I'm sure that the license wasn't very expensive, picking up an anime from so long ago really doesn't seem like the best way to make money.
Somebody's gotta do the old stuff I guess. I'm sure there's a certain market for the stuff they release. It's probably just a really niche market with a small following.
I don't know, all it takes is one successful license acquisition for a company like this to go from irrelevant to the top of the industry. I'm not sure if Media Blaster's has it in them, although they have picked up some good shows in the past.
Plus, although some fans love the classics and I'm sure that the license wasn't very expensive, picking up an anime from so long ago really doesn't seem like the best way to make money.