I don't know if recyling the sequences to the front page is the solution, but you do have some valid points.

It would be nice if some kind of sequence "book-club" functionality existed within the LW platform that enabled people to form reading groups, depending on how far along they were with their readings, and engage in fresh active discussion.

On the other hand, the sequences will likely be distilled into book format in the near future, according to the SIAI website, so there might not be much incentive to do anything about them at this point.