A remake is a derivative work which seeks to recreate an existing work using modern capacities and sensibilities. This exists in contrast to rerelease which is typically the same product made available again and a remastering which is the same product but with significant effort put toward polishing and improving superficial elements. On the other end of the spectrum is the reimagining which departs from the original enough that it's probably best thought of as a new creation which is taking an enormous amount of inspiration from some source material. All of this is a continuum without clear delineations so there is plenty of room to argue over edge cases.
As time passes the volume of media expands providing more items to recycle. What was successful in the past is proven at some level and won't the cultural zeitgeist support an new version of the beloved classic? The answer is: maybe. As always execution is everything. That said, remakes offer a ton of advantages. The work comes with preexisting fans. It has an obvious beginning, narrative beats, and ending which with minimal adjustment will land with said fans. Finally, it offers the opportunity to push everything related to the franchise like spin off comics, video games, and table top RPGs back into the cultural consciousness for a second round of sales.
For all of the advantages the disadvantages are just as complicated. Failing to capture the essence of a franchise is an instant failure condition and many stories don't make sense in the modern era. Moreover, even if it does it's very rare for the remake to exceed the popularity of the original putting a probable cap on success. This makes for a complicated target which needs to both adhere to its source and distinguish itself.
Alright, elephant in the room; remakes are sort of out of control at the time of writing. Case and point: Moana is set to receive a live action remake just one decade after its initial release. While I'm tempted to join the voices claiming that this is evidence that Hollywood is creatively bankrupt it's worth considering how many movies are adaptations of books going back to the dawn of cinema. They have always been bankrupt. Remakes consistently score worse and make less money (adjusted for inflation) than the original. Despite that they keep making money. It's worth considering that while we like to imagine corporations as optimizers disposed to maximize profits they are composed of humans which are typically satisficers. A guaranteed return on investment may be preferred to a gamble by the actual people even if the gamble is better in expectation. Nostalgia seems to be slowly falling out of style so its possible that the suits will catch on in a decade.
IRON NODER XVII: ALL'S FERROUS IN LOVE AND NODING