Yeah I think it's a point I made earlier - MO would benefit from a complete remake, sure, since it's the weakest game that OWI ever made and feels more like something a fan would make rather than an official title.
(hey, I even had a speculative dream about a remake three years ago that I wrote about :P)
But is it really worth it? I'd rather see time and effort being spent on something more deserving of a remake, such as Abe HD. Or something entirely new altogether.
However maybe people do have a point when they say small tweaks could be made to it to make it better. Changing some sounds for example (why do the paramites sound like pigs? And what's with those annoying footstep and jump noises?). Although it still might not be worth it.