...Adaptation means you change things, not completely misinterpret and misrepresent the core aspect of characters.
Because then you're left wondering why you bothered to secure the rights in the first place.
If you're going to "adapt" Joker and change everything besides his name and color-motifs...why bother calling him Joker? Because in reality, he's not. No matter how good he is or isn't, that character really isn't Joker.
Also "Adaptation means you can change things."; adaptation is exactly what Leto's Joker IS, and Ledger's isn't. Leto's is relatively close to source but takes adaptive liberty. While Ledger's paints Joker as an anarchist, which he - at his core - simply is not...