Pixar was bought by Disney years after it was already a movie powerhouse. Toy Story was released in 1995; Disney acquired Pixar in 2006.

Pixar was acquired by the current CEO of Disney. The same guy that purchased all the other large brands and saw them wither away. Heck, half of the Disney board comes from biotech companies.

Disney likes to use their past image of animation and artistry and the current way the company works couldn't stray father from it.