Damn it, Jon Chu! You got my hopes up after actually making a good G.I. Joe adaptation, and teasing me with notions of creating "real culture" on Eternia. So of course now you're off the project, leaving fans once more to hopelessly speculate about "ideal" directors who will never touch this property, like Guillermo del Toro or Peter Jackson.
Pirates of the Caribbean/Lone Ranger cowriter Terry Rossio is the latest writer to try, try again at this. I'm not opposed to him as a choice - both those movies have an action/comedy/fantasy mix that could work for He-Man. I'm just past believing now that anyone's really serious about making it.
On the other hand, no He-Man onscreen means no Michael Bay He-Man onscreen. So there's that.