Hubcap isn't standing in the way of a VW Classics Bumblebee, Tilarta. Licensing is. Just as Hubcap and Cliffjumper aren't Porsche 924s - just something with a broadly similar shape. I don't see Hasbro paying for a licensing agreement to do a Legends scale toy in CHUG.
At best you'd get something similar to deluxe Classic Bumblebee. It'll be beetle shaped... but not a VW Beetle.
The Camaros are different because they got the license as part of the broader movie licensing.