Mints? Probably not. Catalog material never does as well as more contemporary fare. I don't know what costs are involved in doing these TimeLife-type sets, but it's certain there is profit to be made or they otherwise wouldn't continue. To whatever degree, it obviously works under the right circumstances.
As for the Looney Tunes, I can think of several advantages to doing the whole series at this point (including some distinct from the other shows mentioned):
1. A huge chunk of the catalog has already been fully restored digitally (via the Golden Collections, Super Stars and Platinums).
2. Many of the remaining films are black and white, which are significantly cheaper to restore.
3. Selling directly to collectors avoids the middle man (who doesn't move Looney Tunes DVDs anyway).
4. Reduced pricing, which Item 1 might allow, should entice collectors reluctant to double dip the Golden Collections.
5. If bigshot is right and transfers are happening in-house, much of that part of the job should or may already be done.
6. Finally finishing the catalog allows all the films to be used on other platforms.
7. Finally finishing the catalog satisfies asset management (presumably).
Granted some things are speculation, but not doing them similar to this likely means they are released someday on unrestored Archive DVD-Rs with underwhelming attention from fans, or they remain unreleased entirely.