G.I. JOE RESOLUTE was an interesting take and upgrade on that line. Via several online episodes it brought that franchise a little bit of a bite, for a short while, and even turned Cobra Commander into something of a bad-ass willing to pull the trigger for a change (c'mon, he blew up Moscow).
So, take that same edge and place it in the MASTERS universe. Do you think such an idea would work for something like an online limited series? Skeletor being more diabolical than ever imagined. He-Man with his back against the wall. A bit more drama than Filmation would have allowed back int he day?