Basically... yes. I would like to see a project such as this to come around again. Ambition breeds activity, and all that jazz. The community really needs something like this to rally behind. We kind of already have it with Solis Magna, but... that's a completely different animal entirely. I would gladly support, promote, and advertise a project such as this if it were to be created.
HOWEVER, while it is true that ambition breeds activity, too much of it will cause an endeavor like this to fail before it begins. In order for a project such as this to succeed it must learn from where similar projects have failed. I'll outline a list of recommendations below.
1. 3D is not an option.
It just isn't; it's not realistic at all. You can make progress on the models all you want, but when it comes time to actually animate movies or 3D shorts... it would be incredibly difficult. Peoples' time would be much better served on 2D animation, which is my ideal form of media for a project such as this.
Ideally, a series/movie in the style of MNOG OR, possibly, "The Two Leaders," BNG's crowning (and only) achievement - an actual, high quality 2D animation that, while a little rough around the edges, was pretty cool for what it did. That is my ideal situation; just stay away from 3D.
2. Maintain active leadership.
Active project leaders that are qualified, charismatic, and can rally people behind their cause are critical to a project like this succeeding. Leaders must be able to put aside their personal beliefs for the sake of the project, promoting the project everywhere they can and being active and helpful within the project itself. When you get a large group of people going with a project like this, they look to the people in charge for guidance and inspiration. If the people in charge aren't doing their jobs or are making questionable decisions, structure will fall apart and people will begin to leave.
3. Keep the focus.
This one's pretty simple. No side goals, no offshoots, no script writing/voice acting for a billion different movies/series just because you're busy and you "can't help." This, while it may appear helpful at first glance, will be a detractor in the long run. Projects like these that get too hung up on script writing, voice acting, etc. are doomed to fail. 2D animators and artists would be what is needed above all. Keeping the focus on a centralized project or goal and concentrating deeply on it will likely bring success.
4. Don't cut yourself off.
I'm not going to name any names, but excluding yourself from the rest of the fanbase because you disagree with BZP's community or methods is a sure-fire way to kill your project. You need the fanbase (BZP included) to recruit people to your cause. If you aren't constantly recruiting and advertising, your project will stagnate and inevitably die. It's important to keep a public presence UNLESS you've got everyone you need and are hard at work creating something behind the scenes. If you're in need of help... yeah.
I'm sure there's more I could think of but I'm going to leave it at that before this post goes on for too long. Just remember this...
If we don't learn from the past... we're destined to repeat it.