Don't get me wrong, I fear any "modern revival" of anything these days, considering how bad franchises like Star Trek have been treated. It pains me to say, as many of them mattered a great deal to me. There was a time when I would have never missed an episode of Star Trek. It would have been inconceivable. Now it's barely recognisable, and I can't bear to watch what it has become.
With LEGO Space, I'm therefore just going to say this as a speculative exercise in "what if they actually did it right". If they actually did it right, they would run a mile away from the ill-conceived late Space themes, with their over-the-top cartoon aesthetics. They would instead build the setting as a intericate semi-serious space opera, while preserving it's scope. Stick to the industrial construction workers in space aesthetic for most of the factions. Not over-reliance on characters, but rather any named heroes are just one incidental group, within a large setting. Ironically enough, some of the non-franchised games actually get this balance right, such as Blacktron mercs turning up in an MMO, the old LEGO Mars Mission RTS game, the Space cameos in LEGO City Undercover.
You can be funny, like LEGO City Undercover, but also have some degree of Space realism, real geopolitics.