Mr B is not actually very innovative or inventive - but he is very good at rebranding stuff.
Well ... No! RB's usual process is to see where a market is stagnating and introduce a new service/product offering something different. This might be a lower price or higher quality or both (for a time!).
He tends not to re-brand. He did this with Virgin Express in Belgium and went on record to say that he regretted it. Once an organisation is in place, even if the old management has failed and the company is bought from the receivers, then the original attitude clings to the wreckage. Starting afresh is the best way (he said).
He did purchase part of a railway company in the UK and experienced similar problems, not to mention the hideous system that the Conservative govt put in place. However, having used his trains to Scotland a few times, (and within the last 10 days) I can say that I would not hesitate to use them again.
(No, I have never been employed by a Virgin company, I am just a satisfied customer.)