That's my thought too - that it's become too dilute and no longer unique.
And I think that's why, my favorite version of Carol was Binary - she was different, great costume, powers, appearance - and her own character.
And I collected the original MS. MARVEL book when it came out - and loved her during her time of the original AVENGERS run.
But Binary was a great rebirth for her.
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Speaking as someone who's read both his run's and stint on New Thunderbolts yeah I think it's a good direction if they were to bring him back to use him again in a villainous capacity, truth is Genis never really had much of an identity before Peter David introduced his mental instabilities (Rick and Marlo were the true stars of the book) and overall he just works better as this tragic fallen-hero who tried so hard to live up to his father's legacy only to fail.
In fact it kind of works perfectly considering what partly caused his mental-break was seeing a vision of the future where the Kree, Skrulls and Sh'iar had joined forces only to later become an unstoppable dicatorship who conquers the whole universe killing billions and now he would awaken to a present where his own long-lost brother seems well on his way to making that vision a reality (I could definately see Teddy and Xandra being game seeing as their both trying to reform their empires war-like pasts). And considering he was willing to kill his own baby son even after regaining his sanity to protect the future I'd have no doubt he'd be willing to off a brother he's never known if he believed it would cause this new Empyre of his to collaspe in his absence.
I'm a sucker for tragic family drama in comics and there's something almost Shakespearean most about the idea of Mar-vell children going to war with each other because they both believe they're doing what's right in order to protect the galaxy.