I don't think this could happen today simply because not only was Arnold right for the times, but the times were right for Arnold.
Some eras if you will, are better than others and each has their own rising (and falling) star(s). Across the time belt, others shine brighter and rightly so. Insofar as bodybuilding, none have affected so many as did Arnold, not even Steve Reeves. And certainly not Coleman, Haney, Dorian and most definitley not the mighty midget, Phil.