Ugh, did they really need to bring back the red and green sweater and fedora? I was hoping for whole new look for Freddy. Something a lot less campy and played out.
If memory serves, I think they darkened him down for "Wes Craven's New Nightmare" with a black trench coat and a less mechanical glove. Don't remember exactly how effective that was, it's been a while.
Still, as someone else pointed out, it's part of what makes Freddy a recognisable character. It's not just the burns and the claws, it's the whole package.
Plus if you're going to totally
re-invent a character's look and persona then you might as well come up with something totally original, otherwise it's just cashing in on a name.