Eh, after all the terrible Babylon 5-related productions to come our way since "Sleeping in Light," I just don't care anymore. What's the point? What made Babylon 5 appealing was its story, and that story is over.
That's very true, but on the flipside the universe he created was a very rich tapestry and it's a great thing to visit every now and then. Granted Crusade was slightly below par, the tv movies were largely hit and miss, and the two later spin offs failed to fire but if he's planning a reboot then we don't have to worry about that much.
I wonder if everyone will still say 'nuts' or 'hell' when they curse.
It should also be noted that those failures were not a result of the material, but complications on the production side. Hell, Crusade was essentially a victim of deliberate sabotage!
If it were really going to happen, he wouldn't have mentioned it outright. Sounds like he's trying to drum up fan enthusiasm or at least evaluate the possible feasibly/profitability of such a project.
Quite the opposite. Over the years he's been very straight with the fans that he won't talk about things unless they're actually going to happen. Indeed, I think Jerry Doyle tried something like this a few years ago (getting a new project going by first getting people excited for the idea) and JMS was substantially less than impressed IIRC.
So when he says he's going to write a script and believes he can raise funding if WB passes, I have no reason to doubt either of those statements. That's how credibility works.