This is very interesting. I did think it was fishy when I found that Q400 they had registered is older than any of the Flybe ones were.
I hope if we do see Flybe 2.0 they have learnt from some of their rivalry behaviours - taking the Ryanair approach dumping capacity onto competitors routes and dropping it after having forced said competitor off the route. The loganair/eastern highland debacle is probably the most prominent example of this, and they quite clearly never had the financial strength that Ryanair or similar do.