Yes, its entirely possible and actually probable that if a volcano erupted and wiped out one culture, another culture would develop from the very fertile land left behind.

I doubt if the Exodus was linked in any way to the eruption. I also do not think that Egypt deserves half the credit it has been given. In fact, I think alot of Greek culture was appropriated from others. I think we need to look toward Mesopotamia for the culture that exerted the greatest influence in the region.

Just a guess.

It will be interesting to see if this discovery has any bearing on history or if it will just be swept under the carpet and considered insignificant.