Main issue was that fiatjaf and semisol were against it. So it had no real chance. For a project to be successful you need everything to go right. And with powerful people against you, it is likely to not a productive use of time.
To bring it back you would need to write and put online the indexer. However the schema that is used to create the rules needs to be managed responsibility by someone who has the time. That's another challenge.
What's good about #pubky is that its already a working system with millions of nodes. So hard for it to fail. There would need to be a tie-breaker system that ties names to pubkeys. There's emerged new ecosystems for that now, namely runes, or my soft-fork #glyphs. For me it just needs to be fair.