According to the Hollywood Reporter a few days ago, there is a "reboot" in the works for the Matrix film franchise at Warner Bros Studios. Quotations were utilized for the word, reboot, because that could mean a variety of different things in relation to the conceptualization of a film. A reboot essentially is defined as a relaunch in a way that retains the familiar world of a particular movie while at the same time introducing brand new aspects to continue the universe for potential future sequels. If you've had the pleasure of experiencing the original 1999 sci-fi classic then you may have a thought that the idea of a reboot is a very bad idea. However, if you've had the displeasure of experiencing the sequels of the Matrix then perhaps you aren't so narrow minded about the idea either.
In a broad sense, the idea of making a return to this world without the incredibly talented Wachowski siblings seems very odd. The family duo made an impact on Hollywood that still has ripple effects rumbling almost 20 years later and their mark is undeniable with the style of filmmaking presented in their original film. Say what you want about the two sequels respectively known as Reloaded and Revolutions, but they also retained the unique style originated with the first installment. So to create a fourth entry (whether it continues or remakes the world) without the Wachowskis doesn't feel right but then again, that exact notion occurred with Star Wars and look at how that turned out.
In my opinion from a technical perspective, to remake the literal story told in the original Matrix film would be utterly disastrous and unforgivable. The story there is still too fresh to retell and there's not much material there to give a new spin on because the first movie is already a great stand-alone piece of art. When one has desire to remake an older film, it's usually because one or many see that the older film could benefit from a modern retelling thanks to technology that didn't exist during that time. Retelling the story of Neo and the Matrix here wouldn't be beneficial but it'd be pointless above any other appropriate adjective. It'd just be awkward to see roles made memorable by Keanu Reeves, Lawrence Fishburne, and Carrie-Ann Moss redone by new actors.
However, sources state that the idea being thrown around is a "reboot," not a straight remake and that changes the mysterious nature of this story. JJ Abrams has proved with two major sci-fi franchises that one can relaunch a dying universe with new elements while at the same time, retaining everything that makes those franchises identifiable both literally and figuratively. The same can be done for the Matrix franchise if Warner Bros can find the right director, the right cast, and the right team who all have their heart in the right place. I can definitely see a way that the Matrix can move forward beyond Neo's story with new characters discovering the world. Perhaps the character of Neo has become a man of myth and legend since the events of the original trilogy. Maybe Morpheus has reason to recruit new innocent potential fighters into Zion with the red pill because their world has gone awry.
Many of these stories tend to fall apart in Hollywood but now that the story has made big waves, perhaps the idea will be given deeper thought whether it was intended or not. I personally do not need to see further continuations for this world but there is always potential depending on how these things are approached. Technology will always be relevant in our world seeing how rapidly it advances these days, so there will always be room for storytelling in relation to it. The Matrix from 1999 is a film that will retain relevancy no matter where technology moves. But in a way, I guess it couldn't hurt to have more Matrix movies to parallel our perception of how technology works today if it's done right either.