I think the first and most grievous mistake one can make is comparing the 2 films. Generations have past, understandings and consciousness and awareness and morality and values have transformed - the list goes on.
So each film needs to be judged on its own merit. The first was groundbreaking in numerous areas. There were places that I thought the sequel could have done more in the technical and pacing areas, but I felt they were trying to stay closer to the original in that regard.
My one strong opinion - should anyone want to embark upon this project, would be to decide if you wanted to be an innovator and re-imagine the source material, or do you want to re-create that which has already been done, with talent, finesse, and polish.