It's a bit surprising to hear this, given that LEGO has never really done anything like this before. (With perhaps the exception of Alpha Team back in 2004, but that doesn't really count.) Then again, given that there seems to be quite a bit of (perhaps inevitable) hate surrounding Hero Factory, so maybe it isn't that surprising.
I do think there's quite a bit of material left to go on if LEGO is in fact bringing it back. The world of BIONICLE extends quite a bit beyond the storylines of the sets, and there are plenty of locations and characters that haven't been officially made before (Tren Krom, for example--though I doubt it would actually be possible to make a set of him...). Plus, the LEGO-run website for BIONICLE lore (I think it was something like Bioniclestory.com) was kept running for some time even after the theme itself was discontinued. And even if there isn't enough existing material, they could always just invent new stuff.
It would be rather nice to see it return--although I never got that many BIONICLE sets, and probably wouldn't buy any this time round (since I only tend to buy sets for their parts these days), it would give me a nice warm nostalgic feeling seeing it back. Especially since I feel LEGO has gone downhill a fair bit recently... or maybe I'm just getting old.
Retribution (3rd place in BRAWL 2015)
&Smeagol make the most of being surrounded by single, educated women your own age on a regular basis in college
AquaMorph I dunno women are expensive