Of course, Spector Creative has a video on the origin of MotU, as well:
Thanks, Kai! So, Mattel was considering a Conan line, but it had no connection at all with MOTU except barbarian type characters. Two totally separate projects. I figured what I heard years ago was just urban myth.
So, Skeletor was originally called De-Man in the earliest pitches. I kinda' like that idea. Too bad they didn't stick with that rhyming scheme, but yeah, Sea-Man is up there with the vibrating Harry Potter broom in terms of "What were they thinking?!"