Rebuilding Winterhold and the College has too much potential to ignore.
Agreed, I believe they used HF to see how we'll building scimatics worked in skyrim and whether the players enjoy it or not.
Rebuilding winterhold would be a great idea, but I honestly don't know how far you could rebuild considering the cliff side has eroded a lot and would be quiet unstable.
If it wasn't for the magic aura in the college I believe that would have disappeared aswell.
**EDIT** - even rebuilding helgen would be fun.