ICANN is an organization that decides whether you can use a particular domain, and of course they are ultimately forced to cede to the wishes of more powerful organizations, like governments, in various matters.
Namecoin is a process that allows any individual to use any available domain within its realm, without asking permission and without worrying about whether a government will seize their domain if they speak offensively regarding the interests of people who profit from a specific government.
'Reviving' seems like it should only need making .bit domains completely useable as .com .net .org etc. When I type a .bit address into my browser nothing happens. It appends 'www' automatically then says 'server not found'. It would be necessary to visit icann with a suitcase full of cash and some lawyers, and convince them to 'normalize' the .bit extension I guess. If it ever happens that .bit registered through Namecoin is accessible to everybody without having to load a blockchain or even know what Namecoin is, the way you can use a .org without knowing what icann is, Namecoin will be significant. It will change politics in many countries and more.