An Arrow revival would be a terrible idea because it would ruin how great the show's original ending was. Star Stephen Amell recently chimed in on the possibility of the Arrowverse drama making a comeback despite having ended its 8-year run earlier this year. Unlike most superhero shows, the way that Oliver Queen exited the franchise was a bit unusual hence why the Green Arrow’s ending was as impactful as it was. Going into the 8th and final season, Oliver had been told by the Monitor that the Crisis was coming and that his role in saving the Multiverse would result in his death. Crisis on Infinite Earths, which became a game-changer for The CW’s massive franchise, allowed all the shows to move forward while also extending its longevity.
But it was because of Oliver’s sacrifice that the Multiverse was not only brought back but rebooted as multiple Earths were reimagined, including Earth-2, the current home of DC drama Stargirl. Despite having died in the first part of the crossover, Oliver came back as The Spectre and used his powers to rebirth the universe. But it ultimately cost him his life as Oliver officially passed away for good in the fourth part. The final installment of the crossover had Oliver be recognized as one of Earth’s greatest heroes who had given his life for Earth-Prime. What followed was the Arrow series finale where Oliver gets a happy ending in the Afterlife with his wife Felicity.
Given that it was a very new way for a superhero show to end, Oliver’s ending is rare for the Arrowverse. Even though he was killed off, Oliver’s legacy became a higher point in the franchise as he had, literally, given his life to resurrect the Multiverse. While it’s not unusual for popular shows to get revivals after a certain amount of years, Arrow should never be one of them. For 8 years, the Green Arrow drama was one of the focuses for The CW as the character made this franchise possible. The end of the show became an iconic moment for the Arrowverse because Arrows's death was a true hero’s sacrifice. It also gave the Arrowverse an opportunity to have actual stakes as the Multiverse-saga was the biggest crossover of all time. Oliver’s sacrifice was, to the heroes, the biggest loss they suffered as he had affected so many of them.
To somehow undo it and bring his character back for the sole purpose of a revival would take away the effect that Oliver’s death had. The hero, that had literally made it possible for multiple iconic DC characters to come to life in their own spinoffs, had a shocking conclusion in his show’s final season. Before even going into the 8th season, it was evident that the saga of the Emerald Archer had run its course. Oliver had faced pretty much faced every formidable foe possible before his clash with the Anti-Monitor. To take that away just to revive Arrow would be a huge disservice to his role in Crisis on Infinite Earths as well as the happy ending he got with Felicity. Why ruin Arrow’s fantastic series finale and Oliver’s final chapter when they have already been working on the perfect way to keep his legacy going through other characters?
Over a year ago, The CW had put Green Arrow and the Canaries into development as Arrow’s final spinoff series that would follow Oliver’s daughter Mia as the new Emerald Archer alongside the two Black Canaries, Laurel Lance and Dinah Drake. Oliver even used his last time in the crossover to pass the mantle on to Mia and helping to set up the spinoff. The penultimate episode served as a backdoor pilot that set up the spinoff’s central arc, but for months now, it’s been quiet on whether or not the network wants to pick it up to series. If Amell wishes to come back, he could always play a different Oliver from another Earth, but as far as Arrow and the main version of his Green Arrow goes, it’d be unwise for The CW to bring the show or that character back, after getting such a satisfying ending.