Let's be honest... They've revived it several times, but every time they try to get it going, people lose interest straight away. That's just the way it is.
The tag team division should be treated like every other division, but instead of pushing several teams so that the division can sustain itself, they push one team and expect people to be interested in watching teams that mean nothing.
Things have changed, you can't put new unfamiliar faces into the division anymore and expect people to be interested. Nowadays they've boosted the division with guys like Kofi, Bourne, Miz, Truth, Ziggler and Swagger so that you'll actually WANT to watch the matches. You need this variety of big name teams so that the division can sustain itself.
Take the Hart Dynasty, they had HUGE pops for awhile, and then it all slowed down because there were no other big tag teams around for them to face in order to keep their steam going. After awhile they had to resort to putting them in the ring against guys like Jericho in cage matches to keep people interested. (Also, to be fair, alot of people gave them a huge pop because they confused their music with Bret Hart's)
More or less, I think the division will be fine as long as these big name teams stick around, and perhaps help push some of the other teams like the Uso's.