Maybe but it would be something of a miracle. I can't really think of any cases where some web service was loved, and then hated and then managed to restore it

Maybe but it would be something of a miracle. I can't really think of any cases where some web service was loved, and then hated and then managed to restore its reputation. Watching a formerly great service crash and burn leaves a bitter taste in the mouths of users resulting in a situation that I believe is much harder to undo than it would be to just create a "spiritual successor" follow-up with a different brand name.