Lucas is the consummate control freak and perfectionist. The idea he would write a story and hand it over to someone else to mangle is frankly ridiculous. He could have only done it if he had decided to move on. Because he could just as easily have not sold Lucasfilm and filmed episode 7 himself and handed off film 8 and 9 to other directors while producing them and co-plotting the screenplays.
Especially considering how shrewd he was to hold onto the sequel rights and the control of these films in the first place with FOX, i find it hard to believe he was tricked by Iger somehow. I just don’t think he was all that interested he wanted to open a museum and enjoy retirement.
Lucas had like 7 years in between episode III and the sale. He spent all this time on Clone Wars the cartoon and the unmade underworld tv series, time he could have spent at least writing and getting episode 7 out the door. I submit he was more interested in the prequel era, if he was so excited about continuing Luke’s story he had from 1984 to 2012 in which to resume it. He never did. The prequels robbed us of direct sequels as did general lack of interest on George’s part. If the prequel era interested him that much and consumed him, who is to tell him no. He created Star Wars.
And finally even when he handed off to Disney he knew the movie sequels he wanted to make were a continuation and extension of the prequels, and that the fans would have hated them. And Disney rightly or wrongly also made the same judgement on those treatments that they were sequels to the prequels and not the OT, and weren’t going to spend billions of dollars on some weird non commercial midichlorian movie.