I say, it's a good thing he DIDN'T host the Feud revival. Dawson really needed time for his ego to deflate, and as evidenced in the 94-95 run of Feud, he seemed much happier than he was during the last couple seasons of the original Feud.
I think the birth of his daughter was his wake up call. Not only did he have no noticeable ego, but he quit smoking, and no longer felt a need to kiss the ladies. He said on the first show that he had promised his daughter, then 4 years old, that he wouldn't do it.
Dawson did make one attempt to make a comeback to gameshows/comedy with a revival of You Bet Your Life, shooting just a pilot. Unfortunately, Dawson was just TOO laid back, The contestants themselves weren't too funny, and the set was too "game show-esque". Cosby's version was much more on target to how YBYL should've been done. If Richard had done YBYL in 1978 instead of 1988, he would've been great.