You're technically correct, but this ignores some unfortunate realities of DMCA for the smaller fry.
The bigger fry are and will keep fighting to change the ideas of copryright, now that it's inconvinient for them after spending decades strenghening it.
I pretty much said that, yes. But the argument of "personal use" ends when you post on the internet. Which is what most "big fries" are doing as some endpoint.
But those are more "medium fries" anyway. The "big fries" aren't gonna take any risk whatsoever unless they are going the edgy parody route (someone like Adult Swim). There's little upside to Bungie or Microsoft or Laika posting Mickey mouse to begin with
In summary, you probably can and Disney won't care, but it is technically not allowed outside of fair use constraints. It's not legal in the same realm that it's illegal to ride a bike in a swimming pool in Baldwin Park,CA. Key point: don't make money, don't be stupid, and don't be unlikeable.
Even then, most platforms control the content and they probably won't defend you and would take it down. That's not a legal matter so much as a platform policy.
>people aren't getting sued for drawing Mickey Mouse for personal use because Disney would rather go after the big guys.
It's even simpler than that. If a lawyer costs $10k to run a small claims case, and they have a shaky chance (fair use) or a low payout, it's not profitable to go after you.
That's why other factors need to come into play, like potential brand damage, scaring off imitators, or simply pissing off the wrong lawyer somehow.
The bigger fry are and will keep fighting to change the ideas of copryright, now that it's inconvinient for them after spending decades strenghening it.