I think, best-case scenario, even if this game ever does actually release in some form, it will not be what the fans of the original wanted. Nothing so far made public about this game have indicated it will be. All indications are it's destined to be the next Duke Nukem Forever. So aim your expectations low.
And, speaking of Ubisoft and resurrecting legacy IPs... why hasn't the original Rayman been remastered for modern platforms? It's an astoundingly great game, from sound design to level design. It deserves to be played by people who weren't alive and able to play in the mid 1990s on Playstation and Saturn. Ubisoft is so bad at managing their IP, it's just breathtaking.