Can a new F-Zero revive the franchise to its former glory?

[F0X]

Let's just say that both F-Zero X and GX were great racers, but flawed enough so that a more refined sequel would be appreciated.

Or we can accept the fact that Mario Kart ate F-Zero (get it? Mario Kart 8?). I know I already have, and I believe the ultimate result could be glorious.