There was a rumor in the late 90s that McFarlane was going to be doing Thundercats. Most likely they would've been great looking plastic statues from them at that point, if it were true.
Modern McFarlane aesthetics, imo, is kind of ugly. So defintiely wouldn't want them with the license.
The Bandai stuff wasnt that great tho I think the smaller 6inch Lion O was an improvement over the larger figure. Both still look undernourished compared to how he actually looks. And their Tygra had a terrible sculpt.