WAS is the operative word, I think. It's 2018.
If they tried to relaunch Gen X now it'd fail the same way New Warriors keeps failing.
There's a large percentage of peeps that left the hobby after the 90's comics book bust that never came back to the shops.
And both Marvel and DC have yet to get those people back to the hobby stuff like Generation X and New Warriors or Team Titans can't last in this market.
Which means there's no place to really put all these characters.