I was willing to give this a shot out of fondness for the original, and a hopeful feeling left after watching the trailers, but it just felt sadly lacking.
Visually it has some good touches for game locked to a 2D plane, but it seems the developers mistakenly assumed that better technology/base engines make for better games. The reason why Flashback and other similar 'chunky' platform adventure games worked (like Blackthorne) was actually because of it's limitations. Because you had to be immobile to fire and could only do so from a standing or crouching point, you had a firm grasp of the basics of combat. Because you had to get a short sprint before you jumped to vault over gaps of certain sizes, or you had to be at a certain point underneith a ledge to try grab it, you could gauge the input necessary at a moment's notice. This modern remake removes the limitations and attempts for a more free-flowing experience, with full-rotating aim and more responsive controls, which sound great at first, but it removes a big part of the foundation the adventure was built on : the rules of play. Rules are what define a game's challenge, and if you make them more lax, then there has to be new challenges with a similar feeling of reward. Unfortunately, the floaty feeling from the platforming and the more fluid motion and combat just make it feel watery in comparison.
This game falls into that pit between nostalgic form and new-wave revival. It achieves the strong points of neither, but seems to have accumulated some negatives from both. It's far from a terrible game and appears to be quite polished, but it just lacks any real impact or immediate enjoyment beyond ticking objective boxes.