It started as a Real Estate development sign “Hollywoodland” and by the 50s was already starting to fall apart, the “land” part was removed and it was patched up periodically
Some people decided the sign was Historic and they find the money to keep it fixed up.
But I agree it should have been All demolished, that sign has nothing to do with the Movie Industry. its really unattractive and diminishes the hillside.
Maybe a good place to crucify all the pedos.