I think Google can revitalize Buzz but it needs to make it work for Android. I think it's one of those things that Google can really make work given that Android is a mobile OS.
However, given the uproar at launch, Buzz can really do a relaunch. However, it's hard to tell just how many people actually use it as it was intended. Personally, I've stopped using it. I didn't have a need for it. I've got Facebook and Twitter already and those are the two main ones.
Here's what I think Google should go for Buzz. Allow people to update their status, thoughts, what-have-you on Buzz but also allow them to be directly ported to any of the major social networks. I've always been a fan of apps that allow you to go to one place to get all the things you need done.
Take Meebo. It's got its own chat system but you can log on through its app on the Web, an Android smartphone, or the iPhone other instant message providers. Yahoo, ICQ, AIM, MSN, and even Facebook.
See, Google? Meebo has its own chats and made itself the gateway through which other IM services can also be used. Google should do the same with a Buzz app for the Android and other mobile platforms.
So long as Google isn't stupid about it, I can see a Buzz app as I've described it take off. Heck, I'll download and use it on my G1. And just maybe, I'll even use the Buzz features as well.