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Seems like an obvious answer. Changing hands. The original creator of a thing is usually obsessed with it. Someone hired by a publisher to milk an IP is usually just there to work. I'm sliding more and more toward just assuming any game that isn't basically 100% made before publishers get their mitts on it is going to suck.
But wouldnt be easier to basically releass the same game rather than make a new one? Thats what I dont understand unless they had no acces to 1's source code and only got rights to make 2. Even then it seems it would be harder ro make something new.
Yes and no. I'd be amazed if any code from the original was/could be used for the second. One was unity. Two was unreal. C# vs C++.
The other thing is money. It doesn't get the second dev team paid as well to spend a figurative 5 minutes polishing an old game when they can milk 5 months of pay out of the publisher by making a de-make. If the publisher is paying they might start from scratch just to have it take longer. I can't say for sure, but I would bet real-life money the contract on the second was much more beneficial to the publisher vs the devs on the second than the first.
Then there's marketability. Offer people the same game from 2016 and they'll want to pay the same price as the game from 2016 and many of them won't want to buy it at all because they still have the old one. Offer them something that looks like an upgrade ('Look! It's 3D now, and higher resolution.') and milk people's nostalgia for a game they loved 'in the before times' and you can squeeze modern inflated prices out of them.