Channel-tan - just so you know, I do not believe this rumor for a second

It depends on whether or not they could get some of the original writers.

In all seriousness, I don't think they could bring back Johnny Bravo with the current social justice atmosphere.

I think a nice balance of sjw mockery and staying true to his character (and the show's original weekly shenanigan formula) could work, and is something I could even see CN being interested in beyond the fact they're currently obsessed with reboots.
That said, of course, if he doesn't hit on every woman babe he sees, it's just not Johnny Bravo. But, if he does, and there happens to be a lot of jokes and gags that speak some wisdom on the politically correct culture of today (but not too preachily), then it's just modern Johnny Bravo.