This latest trend is keeping the character's name while switching out every other aspect of the book; the identity of the individual in the costume, their color, age, gender, story, relationship to the role... Thor was the name of the guy in the Thor comic. Now, Thor was that once upon a time, but is now a role which may be assumed by Jane Foster, who is worthy of it at a time when The Asgardian Formerly Known As Thor is not. Iron Man is now Riri, a 15-year old girl. The Hulk is Jennifer Walters. Recent creation Spider-Gwen looks positively regressive for not in fact assuming the role of Spider-Man herself while Peter, I don't know, retires in shame after eating long-time foe, Dr. Octopus. "He was rubbery," Parker said during the web-shooter turnover ceremony.

At the very most basic level, the company and creators see what they are doing as a fulfillment of their basic contract with the reader; Keep things interesting; Give them a ride.

The stories have little to no relationship with the past and in that sense, largely follow a piece of advice given here on this board. No one has to know anything from beyond five years ago. The story is supposed still the same long thread, but since the most basic premises of the books are now up for grabs, the ties to the past are of little to no importance any longer. If you come in to Iron Man now, really all you have to know is Riri, and she hasn't been around that long. 

Perhaps it's seen by those in charge as a means of actually "fixing" long-standing continuity issues and opening up the tent to all comers. Those who have stuck around all these years have to eat a lot more nonsense than they'd like (still easier than chewing on a robot tentacle), but for those who are only there because comics are interesting and they want a ride, the company and creators are giving them one.

Actually, he was first merged with Thor, but were separate beings.  This was done to save Masterson's life.  So Masterson would hit the cane, and Thor would come "out", and Masterson would go "in".  This was in Thor, 408.

In Thor 432, (2 years later) Thor was to be banished for all eternity for killing Loki.  Thor asked that earth not be left defenseless, so Masterson was turned into Thor (pretty much exactly as Jane Foster today) where he had his own consciousness in both identities.

In Thor 459, (2 more years) Thor came back, retook his mantle, and Masterson was given the identity of Thunderstrike, till (2 years after that) he was killed.

So it was definitely more than a "hoax". And, at this point, she has been Thor for the exact amount of time as Erik Masterson.

It's interesting how some franchises have remained unchanged. I haven't read many TMNT comics, but when I have, the premise/characters seem pretty much unchanged. Same, to a certain extent, with James Bond. There's a lesson there, methinks.

Robbie,if i was you,i`d recommend that your friend gives it a miss,if his last experience of Thor was Walt`s run,the only way is down!

Although Peter Martin made convincing and compelling arguments, I do understand my friend. I felt at a loss, myself, in the past. I read some CRISIS stuff years ago. Can't recall which. INFINITE CRISIS, FINAL CRISIS, whatever. Totally impenetrable!