While that's true, the other players in the game were made resembling real life players, exactly the same as what NCAA Football was doing before they got sued.
So you could (and I did) go into each team and rename them so they lined up with their real life counterparts. That's what gave that game the lasting appeal to many of us.
I could definitely see a 'Mike Trout Presents: Major League Baseball' become a hot seller if they did it right. I'd have to think they'd need at least a MLB license to compete in the market though.