You may be confusing quality with intrinsic value.
Yes, the mutant carrots and aluminum space suits were camp, but there's still the possibility of a decent story being made from the bones of the work.
It will really depend on how they handle Doctor Smith. If they can have him sabotage the craft, enough to make a good attempt, but fail to do it as he wanted, but come up with a good explanation as to how he was trying to fix things, well, then that'll show they're working at it.
They probably won't be able to cast an actor as good as Jonathan Harris or Gary Oldman, but they may get somebody able to do it halfway decently.
Bill Mumy (Will Robinson) once expressed interest in playing Dr. Smith in a reboot.