The spectacle would be marvellous perhaps but I highly doubt we’ll see a papal coronation again.
The reason why the coronation developed the way it did, resembling the coronation of any other monarch, was because from the Middle Ages until, ultimately, 1870, the Pope was not only the Bishop of Rome, etc, etc, but also the sovereign or monarch of rather large parts of Italy - the Papal States. The Coronation in effect (if not specifically in the language used during it, maybe) symbolised his temporal power. It’s certainly how it was seen by others.
In the homily during his inauguration, John Paul II stated:
“Pope John Paul I, whose memory is so vivid in our hearts, did not wish to have the tiara; nor does his Successor wish it today. This is not the time to return to a ceremony and an object considered, wrongly, to be a symbol of the temporal power of the Popes.”
Even while he might be correct to say it’s considered “wrongly” to represent temporal power - this is exactly how it would be seen by virtually everyone. At best it would be grossly anachronistic (the Pope has no Papal States any more), and at worst it would be an egregious public relations blunder right on the opening day of some future pope’s pontificate.
The spirit of the Papacy since that of Paul VI (who laid his tiara on the altar and never wore it again), has been to emphasise humility rather than dominance. While you can always get ‘more humble’ as Francis did in organising his living arrangements in the Vatican - it’s rather hard politically to get ‘more opulent’ and claim still to be the servant of the poor. Especially today when every movement or utterance of the Pope, like other major world leaders, is heavily scrutinised.
Coronations of monarchs generally, interestingly, had long fallen by the wayside before the time of Paul VI, with the exception of Great Britain: most Western monarchs today are inaugurated rather than crowned. Prince Charles has intimated in the past, I believe, that he might prefer a lower-key inauguration when he finally succeeds his mother (although I rather suspect the coronation will ultimately be kept in the UK).
It might be fun to watch - but I’d be outstandingly surprised if there was ever another papal coronation.