At the time the game was made a lot of stuff was shooting on video because it was cheaper. If it were shot on video a 4K version would be challenging. But since it was on 35mm film they can just scan the negative if its available.
The NES and GB Bill & Ted games were trash and no one has fond memories of them (the Lynx game was OK though). People have fond memories of Night Trap and it's still as cheesy fun as it was back when Nintendo was testifying to congress that it would NEVER appear on a Nintendo system.