If this is just an overlay on top of the old engine, even better in my book. At least the game will be intact, and we can look at the purdy new graphics and animations. Zero problem with remakes if I want to play the game. I mean, good to have that as an option. Sometimes they are shit, sure, but a new shit remake doesn't diminish a game's legacy. If anything, it lifts up the original as more people want to experience the best possible version of the game.
OR, I've just become way too casual of a gamer to care about those ethos or effects on the "industry" as a whole.