Why do you think it needs to revived? There are millions of users who generate content who believe it is firmly at the top of its game; look at YouTube, for example. That is an incredibly successful site that is completely dependent of user generated content, and a lot of the content is very creative.
It isn't just video sites that are user generated; practically everybody who uses the Internet has either contributed to or read a blog and the trend is growing with numerous sites out there. These are either created by individuals who want to produce content about themselves and their experiences, or are hosted and invite others to contribute, often with an underlying theme so that people can share their common experiences. These are very often creative.
There are other sites that have user generated content to illustrate graphics; a prime example of this is Behance.
It could even be argued that social networking sites such as Facebook have user generated content because much of what is on these sites has been generated by the users of them.
Even the site that you have posted your question is one that posts user generated content, and some of the questions on here can be quite creative! Perhaps because we are so accustomed to seeing user generated content, or USG as it is also called, that we overlook it and stop realizing that it has been produced by everyday people rather than those paid to do a job.
