Can't the dead be left to rest in their graves?
G1 ended in 2010 (or 2011, depending on how you look at it). I think it's just to late for this sort of thing to be reasonable.
Also, old loose ends do need to be tied up, but that does not mean coming up with new stuff for people to fight over.
I've been wondering if one of the contests is going to spawn a debate that will tear this fandom apart...
Long story short: I'm opposed to the contests. The Bionicle community already has enough problems and does not need more.