wow. I just read that the original creator of Flashback may be in charge of the company Vector Cell which is making "Flashback Origins" so this whole mess is more of a George Lucas thing where the creator ruins his own franchise by remaking it and 'not getting it'
Honestly, I think that 2D graphics just arent the focus for quality anymore, when they're done it's mostly for nostalgia value. I think part of it may be because 3D allows for animating on the fly and is more conducive to interactivity, so that limits gameplay options.
Super Ghouls n Ghosts and Bionic Commando Rearmed and the upcoming Oddworld Oddyssey New 'n Tasy are good examples of 2D games updated each in their own way, but they were made in 3D, not 2D.
Not to say I wouldnt love to see some kind of Punchout styled game with art worthy of the lastest shonen anime craze, but there's just a limited amount of interactions for which 2D art is really the highest quality option.
Lately I've been thinking the natural media that most reasembles the thinking of pixelart is linocut, I was just struck by the work of Sherrie York, and while reading this it just struck me how flashbackish the mood is on this particular piece

Now the idea of drawing hi tech and dudes shooting lasers instead her usual birds wouldnt have appealed to Sherrie, but the idea of linocut concept art for pixelart remakes still seems quite appealing