The thing is sadly what Alex said and there aren't any shortcuts or fixes.
When people tried to get Campaign 14 to happen the community health was at a better state compared to now and more people from previous campaigns to set the example and lead the way where still around. And yet the tournament didn't happen.
Why did it not happen back than? Well opinions where different depending on who you spoke to. But I think it came down to it basically being impossible to get Admins, SCO, CO, Supporters, Contributors. Hell I seem to remember it wasn't sure there would be enough people willing to SL or if enough people would sign up. So people pulled the plug to not ruin the legacy.
Until you have names of people that are respected/known in the community and that have a realistic idea of the shitload of work it takes signing up to be admins and giving up their chance to play any plan to restart it is dead in the water.
Than you need to get 4 people to sign up for the SCO/CO role with the promise they will take a lot of abuse and have to do a lot of work but hey if it works out they could have a great tournament and they actually get to play.
And than from there you have to go down the list. But quite honestly I would be surprised if you find 1 person that most would consider capable and up to the job for Admin/SCO/CO. Which than leads to if you don't want to step up yourself for any of those you are just wanting others to do a lot of work without being willing/able to commit yourself.
As for suggestions of events they still happen on occasion and I am sure if you are willing to put in the work you can probably find a community to host it for you. Except for the 200 player thing pretty sure devs said no on that.
A light tournament I mean that doesn't really solve any of the above problems. And the lighter you make it the less it will be like the tournament.
This was an argument that was had back than as well. Where the hardliners where saying nothing can be changed it all needs to be the same standard and others where willing to compromise leading to some of the former saying than it isn't worth my time. (not making a value judgement just saying how it was)
But even for the "light tournament" there is probably communities willing to host it if you bring the work and the people.
I am not posting this to try and put shade on anyone I am merely trying to explain the difficulties. And feel free to proof me wrong I will pickup the medic bag again
