I think that a GREAT movie like Red Dawn is only "great" when you were living in the actual Cold War and you understood the subtle messages in the movie because you were living in those times. But it does not play well in a post Cold War world, because there is no way for a newer audience to connect with it in the same way. However the premise for the movie could have held only before things like surveillance satellites, GPS and the Internet were invented. For a long time not too long ago, war movies were all the rage. That was because there were lots of em, in Vietnam, Korea, Desert Storm, Iraq and Afghanistan, Somalia, etc. Now, nobody wants to see them. Same with westerns (what's a "western"?)
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Red Dawn does not have a context today, at least not with its original premise or anything similar. I cant think of any elements that one could use from that movie to "update". Only the (enemy) boy meets (American) girl thing, and perhaps the ceasing of hostilities for humanistic reasons could be done, but aren't those things in most every new movie these days?
I very much doubt they will remake Tarzan, or try to make an "epic western" anytime soon. Red Dawn...a remake? Like, seriously????