Is a new system a possibility?

Some friends of mine here in Indy passed the $900,000 mark on a kickstarter campaign for their new fantasy miniatures game "Myth." It got me to thinking, what's the possibility of producing a handheld Atari (something like Technabob's creation) with a Kickstarter Campaign? Does the Coleco Gemini mean that an Atari-compatible handheld would not run into licensing issues? Could a successful campaign result in an economical handheld? Has all this been postulated before?

http://technabob.com/blog/2011/02/25/atari-2600-portable-flashback-2/