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MikeUGAI is still alive, but if they could not truly succeed with their experience that they took from PSA, I am not sure if anybody could and be very finanically sucessfull. Another failure was SCD. If they could not do it with their brand name and have it make financial sense, then few others could even dream about it.
In short - No.
For the market size, there are too many (the big 4) that exist already. The annual revenue for the entire card grading industry is probably somewhere in the neiborhood of $12M dollars and you have 4 companies fighting for this. Talk about hyper-competitive.