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I think JAW has elected to remake the classics so that they feel familiar enough with the universe from a developmental standpoint before tackling a new installment. It's a good idea, in my opinion.
Of course it's going to try our patience, but so it goes...
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I think another part of it is re-introducing the gaming world to Oddworld - keep in mind that there hasn't been a new Oddworld game since 2005, and until very recently there was almost no news at all coming out of OWI.
I think a lot of people these days will have either forgotten about or never heard of Oddworld, so if they're going to bring back the series they have to get people reacquainted with it; and the easiest (and most cost-effective) way to do that is to re-release and remaster the old titles - it brings back the memories of people who'd forgotten about the series, and also brings people who'd never heard of it up to speed with the backstory and characters.
And of course, re-releasing is an easy way to make money to fund new projects.