It may sound plausible, but changing an animal so that it can exist in the wild is not an easy feat. The existing wild reversions of them are struggling. Some have already become extinct. An easier approach would be to conserve their wild versions rather than attempt to change the domestic versions into something similar to the wild versions. The existing wild versions also have the benefit of evolution, which has adopted them in the most relevant ways.
Even if we do succeed in changing domestic animals into a viable wild animal that could survive, we may end up causing an imbalance somewhere else in the ecosystem, which could turn out to be catastrophic in the long run.
I guess that's true. But do all of them still have wild versions available?
I would say more like close relatives.