Somewhere in Jaguar HQ, a marketing firm convinced the CxO suite that the most pressing problem facing the company was that the logo was wrong. So, in the interests of the shareholders they write off the goodwill value of the existing brand and dump millions of euro into this.
It's still a prestige brand in the eyes of the masses. It might not be as good a brag down at the country club, but letting the plebs know that you can afford a car that costs more than their house still has value.
It is more that there's a grift happening. What's the odds that theres a tenuous conflict of interest here with the various business and executives concerned? It's a small cub and everyone scratches each other backs.