They will scrape whatever barrel they can at this point.
Craft/Concord don't want a record reissue club. They have a much larger customer base via retail. They can reissue whatever they like from their catalog with far wider distribution. And they would lose a lot of VMP licensed titles - competitors don't renew licenses or grant new ones. Then VMP would become a subscription to Craft titles - a bad investment, the subscriber base would not doubt decline.
I can't see anyone other than one of the bigbox online dealers buying VMP. However, at this point, why bother? Can get it from the bankruptcy trustee for pennies one of these days.
BTW - on licensing - different labels have different licensing arrangements. Some it is a per unit fee, others a percent of retail price, others a flat fee. In every case licensing is a function of the artist and title demand. Licensing Gus Cannon is nowhere near licensing Otis Redding.
Not wanting to let tapes out is nothing new. Few labels do this anymore. The cost of insurance is quite high if using an original master tape of any halfway popular artist. That is actually more than the cutting cost. So many reissue labels prefer a hi-res digital or copy tape.
VMP's problem isn't greedy labels. It's being over-extended, losing their shirts on stupid titles and pouring money into a pressing plant.
All self-inflicted.