At Square Enix's annual shareholder briefing, CEO Yoichi Wada said that they company would remake fan-favorite Final Fantasy VII IF they make a Final Fantasy title that surpasses FFVII in terms of both quality and sales. Thus far, the company has failed to do just that (obviously). Wada explained that if the company remade FFVII now, "the series would be done for." You know, because it isn't already.
In other words, folks, stop asking already. The only FF game that will beat FFVII in quality and sales would be a remake of FFVII, so obviously this vicious cycle is never going to happen. At least, it won't happen with the current regime.
I personally don't want the game remade because I think a lot of its charm would be lost, but at the same time, I wouldn't mind if they did so fans could shut up about it already and maybe then the FF series would come to a close. It seems to be dying anyway, so might as well let it go out with a bang.
[Source]
