Could Donald and Walter make it today...starting fresh. Maybe. But in their early days they were quirky songwriters and sidemen for other bands. Then, when they actually formed a band and played their own material, Donald wasn't even the lead singer. If it had not been for the success of a couple of tunes (read Do It Again) they would never have had the wherewithall to hire the best session guys in LA and for all intents and purposes "try them out" on their tunes in the studio till they got what they wanted. I don't think that paradigm would work today at all. Unless they had a verly wealthy sugardaddy who couldn't give a rats behind what they did with his or her money. I believe if they were a "today" band they would be like hundreds of other "cult following" bands. They would have a vociferously loyal (but relatively small) group of fans that thought they hung the moon. But the kind of widespread, charismatic, ultra-cool, hip cachet that they've garnered over the course of their existing career would be very problematic.
And, yes, I love them dearly.