i'd love to see it (esp the heavy eyeliner, it's so iconic), but from what i've seen i really don't know what the vibes would be on the side of fans. i think older fans would love it, as koi said, and the possible blend of the old and new could be interesting. especially as older artists could form their own labels and groups, bringing that experience in...
newer (and by this i mean fans who are only interested in the newer sounds and concepts) fans, i'm not sure. depends on trends, and how much / far it differs from what we have right now, or even in the future. especially with the way social media and promotions are now, and how that's integrated into the industry... if it happened gradually, i could see it going well. but if it happened all at once, as a shock, it's more of a coin flip i feel.
also, if they ever use genai to make a 2nd-gen themed mv or concept photos, i'll be so angry...