Agreed, Pennsylvania! I too was relying on the prints in the Library of Congress. It's completely disappointing how insanely hypocritical GL is. I always thought he was holding the originals back, only to eventually release it to gain cash; however, his absurd "seek and destroy" method suggests otherwise. I do hope prints survive. It really does seem like a pretty bleak horizon.
Also, about bkev's idea of GL putting it in his will, that's completely plausible. In fact, I believe his will specifies that Star Wars 7-9 can never be made, so preventing the originals from release could also be something there. The only question is would it be binding when the copyright expires?
In fact, I suppose it's now that I really see the value in the Legacy project. If a 4K Restored Version exists somewhere for future reference when GL has less power, then all will not be lost.
EDIT: I suppose Nosferatu is an uplifting story. However, think how many films from back then were completely lost due to ill preservation. Various original cuts of The Phantom of the Opera and the sequel to Birth of a Nation are movies that will most probably be never seen again... Star Wars may one day become a lost film, replaced by a hamfistedly edited version.