I think it could work on BBC Four. I don't think it would have a huge budget or anything, but I don't think it would have to.
Why would you want it on BBC Four though? It was a programme designed to introduce new science and technological breakthroughs to a mainstream BBC One audience. That kind of format wouldn't make sense on BBC Four, so it would have to be more niche, but then there's already Click for that.
If it was brought back for sensible reasons rather than just nostalgia, and put on BBC One, I'd be interested. But I'm not sure the format would work nowadays. It only just managed to hang on after multiple revamps in the '90s and early '00s.
Spencer For Hire gave kudos