The closest we're gonna get to that is a Dreamcast/Saturn mini from the Retro-Bit/SEGA collaboration...which tbh I would be more than happy with. Their new controllers look very, very good and replicate the originals perfectly (at least in aesthetic); thinking about picking up the Saturn USB one when it drops.
As for a new Sega console....tbh, as much as I love their systems and historic output, I wouldn't see that working out atm. There isn't much of an angle for them to enter the market on what with Sony, Nintendo and even Microsoft doing pretty well atm, and just wanting to push more power isn't enough. While I think more than a few people underestimate the potential appeal of some of SEGA's IP (kindly forgetting that the only reason they're even attracted to the IP they like is because marketing departments pumped millions into selling them on the idea. Works very well on kids ;), I think most of those games could be better served on more modest budgets rather than lavish AAA budgets, aside of perhaps a few where that kind of budget would be a nice cherry on top (but not a requirement).
So essentially, no, I wouldn't want a new big-hyped SEGA console atm b/c there isn't really an angle or niche to position themselves in that space as it is right now. If they really wanted to do that, I'd rather it be some effort done in conjunction with PC. I *DO* think there's room in a modestly-powered and priced enthusiast system aimed at a more nostalgia-minded audience, think something like all these retro emulator consoles of late but with better specs and support for modern games in addition to retro stuff. Kind of like the Ataribox was going to be, but more realistic in goals and at a sub-$200 while clearly acting as a bridge between mid-tier modern stuff, classic emulation, and support for classic original games and peripherals. They wouldn't need to limit new releases to the box, either, b/c a system like that would be serving a smaller niche than a PS4 or Switch, but as long as it clearly lived up to being a prime source for retro SEGA stuff and able to play some of the newer games at moderate settings, it could do well. That would also be a good excuse for getting more ports to PC storefronts ;)
The other option I see would be a digital platform/storefront offering integrated player profiles, networking, and the such, but essentially able to run on most supported devices. Think something like GOG or Steam, but fully designed around SEGA hardware and image for UI, features etc. Again, that could help with getting more PC ports from them, but say they offer those ports on this hypothetical service at a discount price or what have you.
I think either of those two options would do better than a brand new "Dreamcast 2" or whatever from them; gives SEGA a chance to carve out a new niche for themselves and not need to directly compete against Sony/Microsoft/Nintendo, all of whom have deeper pockets and established userbases in their hardware. They should definitely expand their arcade output both to more home ports and just getting the machines out to more places, however; I honestly think arcades are an under-served market that have potential to expand again, and SEGA was always a market leader in the arcade scene. They even have a few new games coming out there I'm genuinely interested in playing (House of the Dead 3, Sega World Drivers Championship) but know the chances are slim unless I take a trip to Japan, which is a shame.
I'm well aware of the catalog of IPs under Sega's umbrella. My question would be, how much ability do those IPs have to drive enough sales to make a return to the hardware market worth their time and resources? Sony is more entrenched than ever with the Playstation brand, Nintendo hit it out of the park with Switch, and MS seems like they're leading the GaaS front and, if rumors are to be believed, looking into making acquisitions that will bolster their lineup. Sega would have one hell of an uphill battle on their hands. On what terms are they competing? They gonna compete on power with Sony and MS? Online services with MS? Controller/interface innovation with Nintendo? Which juggernaut, on what front,do you think they can reasonably compete with? To those of us over 30( probably more like 35 and up) the Sega name probably means a great deal. To the younger fanbase, they're those guys that pump out a Sonic game every few years and Yakuza. I'm not sure if they have the cache with their IPs needed to compete, as much as I love some of their classics.
If anything, given there's some history with MS going back to the Dreamcast I believe, bring back some old classic lines like Streets of Rage, Phantasy Star, Power Stone, sign an exclusivity deal with MS to have such titles on the gamepass service. I can sooner see something along those lines.
That's the beauty of marketing; while I think things like Streets of Rage would need some design updates to be seen favorably with those unfamiliar w/ the series (basically, make it 3D or 2.5D, expand on the story mode stuff SoR3 was doing, maybe add some RPG-like elements in increasing abilities, semi-open world (city), co-op multiplayer etc), others like Panzer Dragoon I honestly think could do very well; just look at the reception The Last Guardian got, or the new SotC remake is getting now. Fantasy scifi has always been pretty popular in the West and you've got plenty of games tackling that angle like the aforementioned and Horizon, but none doing it quite the way the Panzer Dragoon series did. Scalebound could've channeled some of that but it's long dead b/c of MS bullshit.
All of that said, realistic points regarding the reality of what SEGA'd be up to in challenging the Big 3 right now. They all have a niche covered and are doing pretty well covering that niche. It's why I think if anything they should focus more on their arcade output, maybe expanding it in the West again. And lately I'm liking what they've got going there between Daytona 3, HotD3, and Sega World Drivers Championship. They should do more stuff like that and be collaborating with chains like Dave and Busters to get them in American spots.
