That's an interesting theory.

In fact, I think a strong argument could be made that Bugs, etc., were really so imbued with the personality of their creators (Robert McKimson, Chuck Jones, etc.) that, with those men gone, it is impossible to recreate that magic.

It's sort of like trying to bring back "Calvin" without Bill Watterson. Sometimes a character and creator are too interdependent to let the character live on past the creator.