It can be made again. But whoever does it has to learn from past mistakes.
This model attracts all manner of idiocy and hatred, and it's much too easy for one provocateur to hijack the system. The result is that the site requires several containment zones like /b/ and /pol/.
However, the upshot of 4chan (or any imageboard, really) is the total lack of narcissistic incentive. If you stick to blue boards, consciously avoid the containment zones, and you ignore the provocateurs (big IFs, I know), 4chan hosts some remarkably eclectic discussion of the arts, science, and entertainment. It's really good at elevating things that are thought-provoking or avant garde, if only within the bounds of a polarizing and inaccessible platform.
If you happen to get footage of a "happening" and post it on 4chan, people will notice (and call you various slurs).
If you post it anywhere else it's liable to be deleted, or worse, ignored.