Taking rusty old stuff and making anew!?

Hi there! So as a pre-text; I've been a software engineer for about 11 years now. I started with WordPress themes & plugins, and have for the last 4 to 5 years been doing enterprise monitoring solutions, thus been completely removed from anything-WordPress.

However, I have a few friends who run small WordPress consultancies who are constantly complaining about the general low-quality nature of the plugins for it or that the free versions come with ads and what-not, and I'm looking to put my skills to good use (and make money) so I figured what if I create a tiny one-man WordPress plugin shop where I just see what the bloated, low-quality stuff is out there, and make it better by a mile.

I've long given up on trying to find new ideas not executed before, so I figure taking ideas executed before and making them better should also work, no?