Yes. Although maybe the basis of reviving PVP is getting PVEers into it?
If you made Bori (or something) instead give compelling PVE rewards, then PVEers -- i.e., most of the playerbase -- might be willing to PVP to reach it. And even if PVPers showed up for a fight and found none, they would at least have the consolation of unfettered access to prime PVE rewards.