If I was in charge, I actually would do a complete art redesign of the characters, levels, and weapons. Change to free to play model with battlepass that is easy to moderate to complete with 60 to 90 day seasons. Remove politically correct art and replace with good looking characters, it doesn't have to be first descendent but it needs to be attractive, get rid of all fat characters except joke ones like roadhog. Finally I honestly think I would change the name to something completely different and relaunch as new IP.
I think with these changes it might have a chance but it would need at least another year in the oven to get to that point. So then it becomes a question of if Sony wants to keep this going. They probably would need to get rid of toxic personalities at Firewalk as well.