I think that this can possible work, yes, especially if the team would bring utmost to make it work. However, I would agree with everyone else that the community is no longer confident in trusting the team and risking their chances and faith with the coin. I think that no one will genuinely want to pursue it right now, the devastations are still fresh. And before starting proposals and such, I think that there should be also resolution to somehow make up for the impacts of the event to many investors.
Credibility is very important when it comes to any project in which you are asking other people to support it with a massive amount of money, Do Kwon really seems to believe that he can talk his way out of anything and he thinks he can make everyone forget about his huge failure with just a few words.
But people are nowhere near as dumb as he thinks they are, those that lost a fortune with luna should instead concentrate on taking legal action against Do Kwon and try to recover whatever they can from this debacle instead of supporting yet another scam.