It's hard to see it being as popular here if it was women fighting (seems like there's often a decent amount of backlash against female action characters today and in the 90s I remember Powerpuff Girls being seen as "only for girls" by a lot of young kids in the 90s, even though it probably had the most violent fighting of any kids' show after DBZ), dunno about in Japan though.
In fact, if wasn't just 90% of the time women fighting but also there males cheering on the female fights, I think there's basically no chance of it being popular with guys and I don't think the increase in female fans would make up for the decrease in male fans.
I do wonder if it would do better now than in the 90s though. There are a lot of female fans of Marvel superheroes now - dunno if that size of female audience was ready for it in the 90s.