To be honest I'd be surprised if this "Haeresis" is even in a real game yet. Square has locked up names for various Chrono, FF, Mana, etc. with nothing ever coming of it. Its nothing new, with this new branching IP shit they'll probably do it a whole lot more.
And yeah, they're milking the shit out of franchises, but its in a different sort of way, you got to give them that. Each iteration is basically its own series, and every 3-5 years they'll bring out a new iteration. Roughly two per generation, and they develop tons of content. They supposedly want to be on par with EA and Konami in sales, you need lots of content for that.
I don't think it spells the end for Chrono, Vagrant Story, Ogre Battle, etc. either. Square Enix's E3 announcements show us a huge FF presence, FF7 in the short term and FF13 in the long term, after that though they're only working with Mana, which hasn't exactly been a dynamite seller. I don't think it'll be long before they'll be looking to add more IPs to heavy circulation. Then all our favorite old series can get milked.
Just imagine what they'll do with Chrono's polymorphism. Its about different times and worlds as it is!
Damn, I didn't even think about Enix' franchises. DQ polymorphism anyone?