Working on a existing IP is really restrictive. Not because of the IP, mind you. The problem, for me, is fan expectations of what the IP means to them. That turns into a pair of handcuffs that stops creative teams from fully exploring what the IP could be. (1)

That is the main reason I'd rather work on new IP if possible. Making every choice because it makes sense for the game we are making, rather than because it made sense for some past version and might make people with built-in expectations upset. (2)

You see this happen from time to time when a dev wants to try something different with existing IP. Ps4 God of War was a big departure from the previous games. Guilty Gear Strive has a lot of fans super worried or has put them off. (3)

I don't think there is a solution to be honest. The people feel the way they feel and devs can ignore it and hope their new take on an IP resonates and sells, or they can be handcuffed by it and be stuck making the same game over and over. (4)

That is why, if devs want to get some of those dream games out of their heads, even if they were inspired by other IP, it can be freeing to just build a new one from scratch.

This way players can judge the game for what it is, instead of what it isn't. (Fin)