Well, Pink Floyd is not identical with Roger Waters - and only he is making the musical. He's doing what he's been doing the whole time since his departure: exploiting what already exists. That he hasn't created anything new since he left doesn't seem to bother many people.
Since I'm listening to old Pink Floyd records right now: I think it's a shame that the band is no longer active. And I'm still convinced that a large part of the responsibility for that was Roger Waters' ego - because he now believes that he is identical with Pink Floyd...