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No.
Any new competition can make a dent but there is something to be said about driving interest in the category of building blocks. More interest could possibly rise the tide for all boats.
But Lego isn’t losing sleep on them.
They won't unseat LEGO, but through character licensing, they could capture a bit of market share.
I don't think so. Lego is so well established and its fans are diehard. I could see this giving Mattel a short-term pop, but I don't think it'll ever be serious competition for Lego.
Most toy companies these days are licensing companies. They're going to have a few legacy IPs, but largely work off of contracts to use their manufacturing know-how, to merchandise for films and other IPs with a large fan base.
This is not about selling building blocks; it's about securing Disney contracts, plain and simple. They're taking a big swing to get the Star Wars business; you can be sure of it.