There are iconic brands in American culture: Coke, McDonalds, Nike and others that at the mere mention of the name, playing of a jingle or sight of a logo there is instant recognition and familiarity.
If you have that status why in the world would you mess with that? Oh, if your business changes and you are now something completely different than you once were, sure, rebranding would be necessary.
But if you are known for what you are, own it, proclaim it and be proud of it.
The International House of Pancakes missed the point on this one. The name and the logo is has changed. Inverted, the “p” is now a “b” and IHOP is now just another burger joint as if we didn’t have enough of those already.
This will go by the way of New Coke and it should. IHOP, be who you are, be proud. Breakfast is good. And if you happen to have a good burger, advertise, but don’t kill your reputation and your brand in the process!