How will a new study effect change? Studies have already been done. Congresspeople from those districts still haven't done anything remarkable. See the studies referenced in Hillbilly Elegy by Appalachian born and bred Yale law grad J.D. Vance.
How can a people thrive when the mountainous land only can support mining, minor industry, and a bit of farming? When mining died down, people resorted to what many distressed people resort to: alcohol and drugs.
I grew up near Appalachia. I recall an elementary school trip to a wood toy-making factory in the Appalachians in the early 1960s. I recall a boy my age, barefoot, was working at a station. It was a sad sight.
The misery of Appalachian people is being addressed partially by the Christian Appalachian Project (CAP). Read their short book, An Appalachian Journal. The book makes one believe it would be more useful to use federal funds to pay for volunteer expenses and the materials for rebuilding Appalachian homes and public facilities.