Sure, but there are only a few people from Looking Glass. I'd hardly call this a complete revival. And the people behind this are actually trying to be VERY CLEAR that this is not Looking Glass 2.0.
The quote you are referring to read to me like a quote taken out of context in the article. I believe what Paul was actually communicating was that UA will not be a retread of UU and that Otherside is not looking to recreate but innovate. The flow of that article in general was not good and it was not well written.
It certainly isn't helping that the Kickstarter video is using Skyrim and Bioshock to try to explain what UU is.
"Hello, we're the guys who invented the stuff you saw in Bioshock and Skyrim"
"UU is kinda like Skyrim, but old"
Compare this to Fargo's Kickstarters. After each one of them you would be eager to given him money just to stick it to The Man and rewind time to the 90s, even if you hadn't played the games he mentioned. This KS feels like they are holding back and trying to appeal to a wide audience.
The people behind this Kickstarter have IMO made no effort to sell anything other than a very bland game world. The have not pushed the "Looking Glass"-button hard enough when this should be their greatest asset (although they are honest on this point, I'll give them that). Co-op as stretch goal gives baaad vibes.
The only people who would be sold after seeing the KS pitch are the people who remember the gameplay in UU, who frankly - let's be realistic - are a miniscule segment of players. They don't push the old-school card hard (and consistently) enough. I get lots of awful popamole vibes from seeing their pitch video. The people who would be interested when he said that Bioshock and Skyrim are the legacy of UU are not on Kickstarter, they are probably busy sitting at home counting their chromosomes or whatever it is they do in their free time.
I'm not a hater with regards to this Kickstarter but it's hard not to be a pessimist.