I think it's very hard, if not impossible. It is deep in people's mind, and that is more a problem than the browser's actual features/problems. I think that IE has done a lot of steps forward and is now a decent browser. Unfortunately there are many people that are considered "those good with PCs because they spend a lot of time playing games", that believe that IE sucks because everybody thinks so, and it's not going to be easy to change their mind, it's like "fan boys" but with hate.

I think this is because IE has been bad for many releases before being decent. Android has been near the same fate. Everyone thought that Android has a crappy user interface and a lot of people still think it even if now Android completely changed. Lucky it changed quickly, and so more people are giving it credit. But with IE, it's another story. In conclusion, possible, but it will take a lot of time and a lot of effort. I wonder if it's worth it. Microsoft should come up with some crazy revolutionary "killer feature", other way there will be no reason to switch back.