If it is replaced, I think it should be done modestly with natural materials, from close to the site.
Raven, it makes sense to use local natural materials from near the site to build bridges and other fixtures on trails. Aesthetic value is high, and materials are cheap. In my 34 years of trailwork the crews I've worked on use them most of the time. Lately we have preferred pressure treated lumber to native woods simply because they last longer if proper precautions against rotting are designed into the bridge.
The bridge on TFT is surrounded by young second-growth woods with a healthy percentage of spruce. However, the present bridge beams or stringers are 62' long. A scout around the neighborhood while we visited the site on 3 October found no trees of those species of diameter to replace the existing ones. Those had to be trucked in 53 years ago when the Forest Service built the bridge, because the local second-growth trees were even smaller then than they are now.
Given that the local trees are smaller and shorter than what is there now, they are as yet unfit to replace the latter. They could become parts of a truss bridge, which would have to be covered to keep the rain off them. To use local native timber that way means many such trees have to be turned into lumber at a portable sawmill, and carpenters skilled a post-and-beam joinery would have to do the pre-cutting and drilling before the trusses were assembled on land then moved across and lifted into place one at a time. Then come the floor beams, deck, top braces, roof, and sides. An alternative is to roof and side each truss, which is called a pony truss bridge. Either way, dozens of trees would be sacrificed. A large area would be taken for the workers' camp and the sawmill and work areas. Not impossible, but very high-impact and expensive.
This is why the most cost-effective replacement is likely to be either glue-lam or trusses, built off-site and flown in by helicopter. Now we wait to see what the district ranger tells the USFS bridge engineers.