I like to think it was all because of Loony BoB's project that this happened.
Anyways, I'd laugh if this took the same route as Versus XIII. Just a concept trailer that doesn't pay off for another 10 years. I doubt that would be the case. I have no super attachment to the game, and a lot of what I love from the game involves the sometimes weird translation, spelling errors, blocky graphics, etc etc. That charm won't be there, but I'm pretty interested in seeing how this will play out. They could do a lot to capture the nostalgia and atmosphere from the first game while improving aspects that didn't quite live up to what they were intending to convey. There is a lot of pretty adult things though that would cause issues at this point if they wanted to avoid an M rating. I almost feel like inevitably there will be some things lost and some things added that everyone will hate, but I hope it turns out great despite that!