Test cricket can defiantly revive if we have interesting test matches like this where 20 wickets fell on one single day. From New zeland side only Mitchel and Tom Blundell were the two batsmen who score runs rest of the batting line up collapsed in both teams. Result of the match would be in favor of New zeland if they have lead of 50 more runs.
It basically becomes a T-20 or ODI at that point which is why Test Cricket will continue dying in my opinion. Was never really a fan of tests to be honest which is why I won't miss them.
ODIs are also becoming less relevant and they might die at some point in the future too. Both these formats will probably be completely replaced by T-10 and T-20 formats which would be a great change overall.