I don't think the fans should try to finish JJ3 or reboot any of the Jazz games because, as a recently short-lived Kickstarter illustrated, it's property of Epic Games and the project will get shut down. This has also happened recently to Descent: Sol Contingency, a Descent remake in the Unreal engine. Sol Contingency got pretty far along. I knew it was a matter of time until the rights holders acted upon it and shut tho project down, and that finally happened recently.
They are now ripping out all the assets that are from the Descent universe and replacing it with original IP.
I think that's the way to go for any fan community (minus the getting shut down part): make a spiritual successor that feels like it's from the same universe and has the same gameplay, but has all original content. Freedom Planet did that; it came out of the Sonic community and it shows. The game is awesome, and they've made some good money off of it too.
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