I don't think there is much that will make the former "bathing beauty " pageant into something more valuable to society. Women can now choose any profession, have goals other than to be a wife (trophy or otherwise) go to any university or become a senator or president. They run huge companies. Pageants are an anachronistic look at women. Women don't need to expose their bodies to be beautiful but really, who bothers with beauty pageants anymore? Women can get merit based scholarships for their academic abilities, for athletic talent or other skills. They don't need to play this demeaning game.
You want to see naked or nearly so? You aren't waiting for miss America pageant.