I mean, it's an interesting idea, but I can't help but feel it's a little late for this sort of shake-up. After five sequels, innumerable comics/novels/video games, and a huge pop culture imprint, I think switching out the Predator for a different alien would just be out of left field. The vast majority of people see a pic of a Yautja, they go "Oh, it's the Predator."
There's also the problem of how you differentiate the new villain; most of the weapons are either going to be variations on Predator tech or sci-fi spins on real world stuff, so I'm not really sure how it would be anything but a pallet-swap of the original... And let's face it, beating THAT face is going to be a real challenge design-wise. It's iconic for a reason.
Now, another species with a similar MO competing with (or flat-out hunting) the traditional Pred might be something, but it would have to be handled carefully.