I don't know if Mattel is even thinking about reviving Major Matt, but I do know that his followers are alive and well and as rabid as anyone that collects "stuff."
There is a Yahoo Group dedicated to the good Major and apparently a cottage industry out there creating bits and pieces for the collecting hordes.
When I was a junior in HS - which was about the time that Lucy and her kin climbed out of the trees in East Africa - Major Matt was all the rage. To disguise my toy addiction, I bought a horde of the stuff for my little brother who was in 1st grade (who knew their parents had sex back then and an "oops" was possible?). The Moon Base, the Crawler thing, Major Matt and Sargent whats-his-name and even Calisto (I think that was what his name was) the alien...
Chris was only mildly interested in the stuff, and I honestly don't know what ever happened to all the stuff after I moved out following my graduation the next spring.
All that was to say that I think there would be a market for a revived Major Matt.