F-Zero 99 has proven the viability of OG FZero gameplay on for modern fans.
My thoughts:
Fans are going to say "This means you should make a new #FZero successor to FZeroGX".
I'm going to disagree.
What this actually means is you should make F-Zero Maker as a successor to Mario Maker.
The OG tracks are 2D and simple, they could very easily be hand-made by players in an editor.
Yeah, beat-em-up gameplay on foot and racing gameplay in the hovercraft for an open-world sci-fi racing game seems like a good fit. Get cash from bounty-hunting and race purses, spend it on part upgrades, unlock new zones, etc. Samurai Goroh, the beefy katana-wielding bandit with a huge bounty on his head who pilots the Fire Stingray, gets to be your recurring villain. Racing, car chases on elevated expressways, and punching things.