The Rock already did this sort of thing as the Scorpion King but he'd still be worthy.
Arnie didn't really 'make' the original movie though IMO. It was the set designs and the other memorable characters/performances such as Mako and James Earl Jones not to mention John Milius' script that stopped the whole thing from being silly.
If they're not careful we could end up with another Red Sonja or, eek, Conan the Destroyer.