I'm thinking that wooden aircraft gave way to metal in homebuilts was because of the wood building technology of decades ago.
1) The joints had to be perfect as the glue couldn't bridge gaps. That's now fixed with modern epoxy glues.
2) The old glue dried out with age and let go of its grip. Again, fixed with modern epoxy.
3) The technology to seal the wood from moisture wasn't very good and you could get dry rot in areas not visible, yet critical. New coatings fixed that problem.
4) I think that a good design created by an engineer schooled in modern materials should be every bit as good as metal.
I would really like to build an airplane, like the boats, with light glass cloth over the wood surface coated in clear to make the aircraft look like a fine piece of furniture. I don't know it clear would provide enough UV protection. I'm not an engineer schooled in modern materials. In fact this whole opinion is based on reading EAA information.