I know many console games are sub-HD these days, but that's a bit much.
The "original premise" for Lost Planet 1 was to make a high-action sci-fi shooter with interesting enemies, fun weapons, and good boss fights, while introducing gameplay elements from traditional Japanese action games. It was a spectacular success. It's one of an astoundingly low number of games that manages to do the Halo "linear sandbox" style of shooter as well as Halo. Lost Planet 2 was a drastic improvement on that compared to the first game, and I struggle to think of any games that do it as well as LP2. Which is one of the only co-op action games of the generation where the co-op isn't insultingly simple (Left 4 Dead) or so poorly executed that it removes any semblance of challenge or tension from the game (Halo, Gears, every other shooter where co-op gives you unlimited respawns or lets your friends revive you infinitely for free).
The fact that the FPS market demands homogeneity doesn't take away from the fact that Lost Planet 1 and 2 were fantastically designed games. Passing it off to a shithouse developer who aspires to make the third game into a ripoff of a ripoff of an older Capcom game is just insulting.