I honestly don't think a classic XI rerelease or such would work right now at least not from my perspective.
The game just wouldn't be what it was without it's cancerous cesspit of a community and I say that as someone who truly loved the game and was likely the second best geared BRD (Damn you Teffie!) outside of Japan on my server at the time.
At the lower levels, the game would curb stomp you for fun and profit, and then one you hit the end game, that was replaced by rival HNM shells curb stomping you instead. It was an amazing experience but it's also one that just wouldn't fly nor sell today. People are too used to that instant gratification now.