If that meant KojiPro was making games for a new portable PlayStation, then absolutely...
Unfortunately, I think the days of small games as side-projects for big studios has come and gone. I was a huge fan of that period where PSP/DS were raging and XBLA/PSN offered tons of opportunity for experimentation and we had a wide range from megabudget productions to one-man dream side-projects coming out from major studios. Like
The Cartographer said, there was a strong culture of apprentice talent at KCET and to a degree Kojima Productions Konami, (though I'm not sure if Kojima himself shepherded them or if these upstarts just got a big name stapled to their project?) and there are a number of good games from designers who did well in Kojima's orbit. The GBA&PSP Metal Gear games are some of my fave go-tos of the series even though everything but PeaceWalker is swept off canon (that makes them better sometimes since I can just play and not be mired in the big picture.)
Now, though, it's AAA or bust, and I don't see Kojima Productions doing many productions that are offshoots. Gor every major title, then, it doesn't make a lot of sense to me to not have the guy whose name is on the door and on the box doing the game. An integral part of the hype and payoff for following and enjoying a Kojima Productions creation is the man, the myth, the legacy himself. Perhaps the studio will some day have an identity crisis (sort of like Ghibli has gone through with Miyazaki constantly threatening retirement) of trying to decide who and what Kojima Productions is with no more Kojima, but that's a luxury problem to deal with that the studio would be blessed to survive long enough to contend with.