All you guys are missing the point ! Aegean bought the OA name and logo purely for one reason. Because if they did not then another owner would be in competition and obviously that is not in Aegeans interests. Pure and simple.
Personally I had lots of great flights in the 80's and 90s on Olympic Airways/Airlines. Yes there were problems but they had decent hot meals and free bar service. I mostly flew on the A300's and B747. The problems came in the later days of the airline where they failed to keep up with the competition in terms of onboard product and they became quite dated. Greeks were divided and many liked it and many hated it. I guess it depends on how much they gained from it. Plenty of Greeks not just the elite had their fair share of the honey pot whether it be free tickets to vote in elections or free excess baggage allowance etc.. It was a different era in Greek society. The one thing I will say is that OA had a very highly educated and professional staff from engineers to office staff many of which should have been more active in the company rather then politically appointed managers and CEO's who knew little about the industry and changed with every government. That is where the problems were. Sadly a lot of people only think about the negative sides but there were lots of positives about the airline over the 80's/90's. I had over 200 flights with them and 80% were great.
So I think they should keep it as it is. The current Olympic Air is a professional and decent product and keeps the OA name alive albeit on Domestic which is fine for the Greek market as it has brand awareness and the majority of Greeks think its a good brand based on market research in recent years. It has no real brand awareness outside of Greece where as Aegean increases brand awareness with every year that passes and does very well in the International market. But it still all comes down to the first point I made. They only did what they did to stop someone else getting the brand.