Very few cases are won on "MERS" assertions, whether MERS is right or not. Essentially when MERS was allowed to do what it does, some red flags undoubtedly went up, but when we see that those involved kinda had Fannie and Freddie buying such items (securitized products) and then going practically belly up, with the mortgage industry flying high with some becoming very very very wealthy due to the resale of notes that really were not there-- it's not that difficult to understand that courts will not want to do too much tinkering all at once.
"We thinks" the government knew full well what was going on, and oh well.
So now that everyone either got bailed out, made a fortune, paid off some baloney "settlements" to those who should not have lost their homes, real estate is moving along again, as the investment vehicle people still believe in. Despite changes in laws, despite people losing homes, despite the fraud, people still want real estate. It will never change.