One can dream ... they can and should probably take it back to it's roots. In a modern PC world, that would be hard, but not impossible. A "live" house with an appropriate time delay to air so that turkey slap incidents could be blocked from going to air, live feeds (streaming) with appropriate content warnings about possible swearing and nudity etc (perhaps even set up a dedicated subscriber channel where potential viewers sign up completely and fully informed), public votes, proper challenges or "Friday Night Live" style games, and a strict BB who enforces rules and doesn't come across as too friendly or interfere in the natural flow of things. If you want to spice it up, then allow strategic talk and alliances etc (I actually like that format better than having to keep your nomination and voting thoughts to yourself). I don't see a need for ticketed auditorium/crowd evictions, but, that would certainly be the way to raise revenue toward the prize money and production costs (sadly, Covid may have something to say about that though).
Currently, the TV networks seem scared that the old style format will not work in a modern world. It can and will work if BB enforces the rules. As soon as something looks like going in the wrong direction in the house, BB does what BB should do (and did do in the past) ... he steps in and puts an immediate stop to it.
I do also agree with what Kingston said above that there also probably needs to be something new in the mix to keep things exciting and to move the show forward. But, we've not had the "old format" for so long now, that, to many, it might feel like a completely new show and that could be in and of itself the "something new" that people don't yet realise they want.