I hope that the VII Remake is actually a bait and switch for the VII-2 players were promised with the Compilation. I can see it now, you star as Genesis waking up after Dirge of Cerberus only to discover that Sephiroth resurrected himself (again) by thinking really hard about it and then brow beat the VII cast into a bunch of simpering wimps. He summons TWO Meteors to make sure the job gets done by absorbing most of the planet's Lifestream so he can have them both crash into the Planet so he absorb most of it's Lifestream. Genesis tries to rally the VII crew to stop him but most of them are more interested in cutting themselves because they are all afflicted with Apathy Syndr...er Geostigma 2.0 and are thus too mopey to stop Sephiroth so Genesis finds the Final Elixir Materia and revives Aerith so they can both stop Sephiroth. They learn the easiest way to beat him is not with weapons or WEAPONS but through the power of song, so Genesis forms a band called Genesis and Retcons with Palmer, Don Corneo, Mukki, and Aerith to stop Sephiroth with a full on global concert. Discovering the power of music, Sephiroth becomes Genesis No. 1 fan and gives up trying to destroy the planet/become a god/ become Jenova/insert new motive/etc... and just wants to follow Genesis' band around the Planet in the chance he can get a sweaty sweat band off of him that he can smell and fanboy over.
The game will have no map or towns and all gameplay will just be QTE and Rhythm game mechanics based of KHII's Atlantica section and the rest is just hour long cutscenes mainly about the VII cast bemoaning how they are powerless to stop Sephiroth and wished they were as awesome as Genesis who is totally more powerful Sephiroth when it's revealed Sephiroth is actually a failed clone of him. It will take either five hours or 300 hours to beat the game depending on whether you do all the side missions which are just watching cutscenes of Gackt doing the motion capturing for Genesis.
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In seriousness, a new translation/localization is a must. Better gameplay balance would be great like nerfing some of those final weapons and making some of the late game materia a bit more challenging to get. Add back the Tifa telling the party Cloud is crazy scene so it doesn't feel quite like a plothole, give Sephiroth's motive better clarity, maybe actually focus on the Terrorist angle in the beginning a little more and I would totally love to have the option to drop Cloud in battle after the start of Disc 2 just to add better variety to party configurations. Maybe rework some Limit Breaks and add more exclusive gear with more wide range of abilities/materia slots/materia growth so the cast feels less samey.