Knowing my script will never get picked up by the powers that be at Netflix, sure! Here's some basic concepts.
I like the idea of Adam being the court fop, or at least perceived as such. Act 1 of the movie is introducing us to Eternia, the Evil Warriors, and the elite soldiers of King Randor. Skeletor is just emerging as a threat, and Adam, as son of the king, is essentially given a softball assignment along with his faithful pet Cringer to show that the royals are taking the threat seriously. However, this softball assignment has his unit wiped out by the Evil Warriors, although Adam manages to escape and find the Sword of Power.
I've seen several scripts where the mentor figure for Adam varies, one had Battle Cat as the mentor, the other had Teela following him around the whole time. I saw the guardians of Grayskull as a duo, the Sorceress, and because the toy is out, Sun-Man as her loyal retainer/guardian of the sword. The Sorceress and Sun-Man can also form a sort of good cop/bad cop routine with the Power of Grayskull, where the Sorceress believes Adam has what it takes to be the hero of Eternia, while Sun-Man is more grizzled and cynical, having seen others with the Power either fail to live up to what was expected of them or in one particular case, be corrupted by it (potential sequel hook for King Hiss or the Horde). However, Sun-Man eventually warms to Adam's courage and genuine desire to do good, particularly after seeing him go out as He-Man and eschew slaying Evil Warriors to help innocents.
Act 3 is Skeletor taking notice of this new thorn in his side and after laying a trap for He-Man to find the secret of his power, discovers Castle Grayskull to be the source of unfathomable power. Sun-Man...I don't want to kill him, because I want to avoid the trope of killing the black dude first, but I would have something put him out of commission for the final battle, maybe even capturing and torturing him to find Grayskull itself and learn the fabulous secrets that it has. That final battle would be He-Man joining with the other Masters to battle the Evil Warriors, including our big He-Man/Skeletor duel. He-Man wins, and the movie ends with him revealing that he's Adam as Eternia is safe. Roll credits with a post-credit scene of Skeletor vowing revenge, or one of the villains that desired the Power revealing themselves as next to menace Eternia.
This is all a very, VERY rough idea of an outline mind you. But I like the idea of playing with the original concepts of the old series (Adam as the court fop and seen as kind of a loser by his dad, the burden of the Power, previous guardians of Eternia, etc). And I like the idea of giving Sun-Man a major role as a sort of mentor/senior figure.