No, because various people have said that Izzy wants to do this. Guys like Marc Canter have said this for years and Steven has said so recently as well as in the past. The problem is that we've heard a couple different things. Izzy says the big 3 didnt "wanna split the loot". Insiders like Eddie Money have said that Izzy was offered only guest spots for a salary like Steven.
as far as him not touring at all in 20+ years, to its as simple as this: Jimmy Ashhurst who was in the JUJU Hounds said that during that time period Izzy was bummed about the fact that tour wasnt as successful in the US as it was in Japan and Asia. And that all everyone wanted to know about was why he left GNR and that they wanted him to play GNR songs. He also had to front the bill for that tour(a couple million or so) and thats a bummer. who wants to do some shit to lose $$ and not be appreciated. It makes alot of sense why he does albums like he does. He just puts them out. No middle men, no headache and bullshit. Same with Steven, which is why he said on the Adam Corolla show that he is retired, because he'd rather play with an established band than have to start over again from scratch.