As I recall, the pre-Trek Lemond bikes were among the most innovative in the peloton at the time. They were among the first carbon bikes raced at the highest levels of the sport. They were among the first to employ titanium and then carbon lugs. And, if I recall correctly, they won at least one grand tour. Admittedly, Greg wasn't making them himself (Calfee and TVT I think). But to suggest that they were boring, cookie-cutter designs is a huge injustice.
As for the Treck-era Lemond bikes, I agree. They were basically Treks with a different logo. But, by that point, innovation and design were out of Greg's hands and were firmly in the hands of Trek marketing gurus... just like every other bike with a famous racer's name on the downtube (Merckx, Fondriest, Cipollini, etc.)
I'd be curious to see what Greg has in store for us. I suspect a collaboration with a well-respected (by us weenies) boutique builder wouldn't be out of the question. I would certainly consider a Crumpton-designed/manufactured Lemond-labeled frame. Or other similarly innovative builder/designer.
But don't sell Lemond short. He is a pioneer of technology in the sport. I would expect innovation from a Lemond branded bicycle if it is free from another major industry label.
"Boring" Lemond TT Bike... which won the TdF