Should Equalizers make a comeback?

They already have. Well, at least in non high end audio circles. Except now they are digital not analog, done with software, not hardware and bundled into various devices.

For example My desktop PC has more elaborate equalization and sound processing functionality built into its software than most people have ever owned.

Digital changes the game when it comes to potential for signal processing applications, good old fashioned equalization being just one of the more recognizable ones. When applied appropriately and done well, it should be all up side and virtually no down. Its like the ultimate Swiss Army knife for audio. Could greatly reduce the need for other kinds of tweaks that audiophiles are historically fond of, if properly mastered.

Here's One,Crestron PSPHD ProCise Preamp.

I owned amps years ago which, indeed, had balance and tone controls but these were single button controllers which allow only for adjustment of both channels together. For control of the kind that one needs for accommodating room acoustics or, in cases like mine, hearing deficiencies, more latitude is needed especially for adjustment of relatively specific frequencies for each channel independently. I'm writing, btw, in reference to the use of graphic equalizers in two channel applications as this is the only experience I have.

I'm currently using (digital parametric) EQ in an active, tri-amped setup. While no EQ has zero negative influence on the sound, I usually find that the sonic advantages very often outweigh the sonic disadvantages...and below roughly a 100hz or so those sonic disadvantages seem to evaporate.

I enjoyed ths lights...lol.But I did like using it to play around with ,and toy with the sound.