What would the purpose of a "New" Foundation be?
The Foundation's origin was/is based around a core group of developers and business partners with the purpose of enabling a more democratic representation to the open source project we know as Bitcoin.
So it would seem that the BEST way to circumvent the existing collaboration would be:
1 - Establish a team of technical resources that can execute updates and enhancements in a more timely fashion
2 - Garner the support of said technical team from a few substantial business partners that support the new direction
There is no reason why there has to only be ONE Bitcoin open source project. Start a new one and have it compete and succeed against the existing client.
It does not seem to me that the Foundation has any real authority or power over the Bitcoin code (anyone can download it and re-release it), so just create your own project and organization.
A new foundation should focus on furthering Bitcoin's integration into the mainstream. Its difference between the old model would be that: Members are chosen by the majority and each seat is on a temporary basis; not self appointed. Accounts are public and with expenditure being properly scrutinised. It is a NON PROFIT organisation. It would engage with the community on a frequent basis and consult on projects that would be a sensible use of funds. i.e marketing and facilities; new atms, bitcoin banners and logos being put in shop stores that accept it...
I feel right now, that Bitcoin is not being served correctly. It is a fanstastic concept that needs coordinated activity so that it can succeed. It is being pressured from all sides; incompetent exchange managers, fraudsters exploiting it, hackers seeking to disrupt it and the media attempting to destroy it.