The original was 21 years ago -- and the new film would be at least a year from now, maybe longer. And again, the original film was not a success
. It cost $40 million to make and only made $47 million domestically -- which makes it a pretty big flop. It's only at 61% on Rotten Tomatoes and 6.3/10 on IMDb. I personally liked it well enough, but it's not some world-famous, timeless classic like Psycho
, where you could come back decades later and do a direct sequel. It's a relatively minor film from a generation ago, and though it has its loyal fans, it isn't hugely popular or well-known among modern moviegoing audiences as a whole. So of course they're going to start over from scratch rather than doing a sequel.
EDIT: Or, what Harvey