I think the quick answer is: no. The original designer has just spoken in an interview about the debacle with Pro Skater 5. Don't think we'll be seeing any skating game for a while, though Tony Hawk is apparently working on his own one.
IT could work but you'd need one hell of a skateboard set up. They had that skateboard peripheral years back, and it was useless. You need to be able to hold onto something either side while you're skating like the arcade skating games.
Tony Hawk's needs to go back to its roots big time. Keep it simple and clean.
Problem there is, Activision can't be trusted to make that happen. It'd need a cooperative effort between themselves and a passionate, invested party. The Crash Trilogy is an example of respecting what was done before (regardless of how 'okay' those games were to begin with) with a secondary player (Sony).
Same goes for SKATE, which has just as much chance of a successful return at this stage.
An indie dev or small studio would do well to try and step into the niche left by these dead giants.
I've never really been into skating games, but I do remember playing Tony Hawks proskating 1 or 2. I think there's definitely a market for it. I think there should be a wider range of genres in today's gaming. But what I think won't make a difference if every developer goes after triple A appeal. There has the be a decent third party developer that wants to make this happen for medium level appeal.
Tony Hawk franchise should be done. The last 3 or 4 games were terrible. I am surprised EA has not come out with a new Skate game though. Especially after seeing what they did with the Skate 3 patch on the Xbox One X. Why put out a patch on that game if you are not gearing up to release a new one? Or maybe they are.....