I disagree. The core problem with Greyhawk as a setting product is the audience for such a product.The core problem with Greyhawk as a setting product is, what do you do as the player character options content?
Wizards is never going to be able to put out a Greyhawk for 5e that would make the majority of Greyhawk fans happy - first of all because Greyhawk fans all have different ideas of what Greyhawk should be. And second of all because anything that Wizards puts out would be an update to the setting - not just the rules - we can see this in how they've handled Ravenloft, how it looks like they've handled Spelljammer, and how they're proposing to handle Dragonlance. The question is whether those updates would work and bring in new players interested in those settings or if they'd just alienate the existing audience for Greyhawk without bringing in new players.
It's a landmine for a setting that is not likely to pay off for them in the mass market in the way that revamping Ravenloft or Spelljammer will - the feel of Greyhawk is counter to current trends in modern fantasy, and is very rooted in pre-D&D fantasy ideas, while both Ravenloft and Spelljammer are in line with different strands of modern fantasy.
Now I will be the first to say that I could be very wrong about this because a year ago I would have said that Dragonlance was also a landmine of a setting for similar, though not exactly the same reasons (actually having more to do with Weis and Hickman still being alive and being very vocal and protective of "their" setting, and the fanbase around the setting that agrees with Weis and Hickman on who should direct the development of it regardless of who actually owns it, along with elements in the setting that are very dated to put out in a modern product and yet the core fanbase gets very protective of) and they've decided to do it anyway. So maybe they'll figure out how to make it profitable for themselves and do it anyway.
But I'd still bet on a big Realms thing as part of the 50th anniversary rollout instead.