One positive side-effect of the Warners/Paramount merger, is it clears up the ownership rights of Freddy, and unclogs the sequel nozzle. I just wish we'd gotten a part 9 with Robert Englund before he became a frail old geezer. I guess FvJ was big enough to go out on, but I'm greedy. I love Robert as that character so damned much. Can't wait to see who the new guy they cast is. Jackie Earle Haley was actually really good, but the bacon-face makeup was wrong, and the script stunk. https://www.darkhorizons.com/paramount-planning-a-new-elm-street/
The only other way I can see that wouldn't be a hard reboot would be a sequel-boot. Like Star Trek '09. The short-lived Marvel comic introduced the idea that Freddy wasn't the only boogeyman; there were a bunch of other ones, and they all hung out at this filthy bar at a dimensional crossroads. You could use that to have classic-Freddy pass the mantle to like, a dead school shooter, or an Iraqi vet who was so awful his men fragged him, or something like that.
Mods, please do a reboot of Uncle Albert where he has pink hair and is a woman? Everyone would love that and think it's awesome, especially UA.
I always come up with these fanfics in my head, but since when do the studios care this much? It'll be a Matrix-ified remake of "Dream Warriors" but without the political message that places like Westin Hills are still real, and crooked, and need to be shut down.
I think the main tourist is still on vacay from this place. (I will admit to not knowing the specific name without googling, but it's been years since I saw any of those movies and they didn't make all that big impression on me other than the occasional Freddy quip and the line of "Freddy Krueger is the bastard son of a hundred maniacs.")