I think that matchup is as close to a reverse of the real 2016 as you can get, putting the edgy New York billionaire and the establishment candidate from a political dynasty on the opposite parties. And again similarly to the real 2016, I think Bloomberg would appear as the outsider, reform-minded candidate and win off of those merits.
Another similarity between Bloomberg and Trump would be that neither were orthodox nominees for their parties, having each been members of the opposite party in the past.