I realize I was a bit too aggressive. I will make my case as follows:
Shining Force's lore and world is stunningly unique. Armored centaur knights for example. SFIII took the story into a darker realm of political intrigue and infighting almost akin to the modern world except in a medieval fantasy world. The Republic was surrounded by impenetrable walls designed to shield people from a never ending darkness.
The graphics, while great for the Saturn, were limited by that platform.
My case is fairly simple actually. Fire Emblem games have been made up until recently. Why not Shining Force? At least, like we have suggested, use the lore somehow and begin anew. Start again.
Now I understand that the games industry is a business. I know this too well. Nevertheless, there are platforms where Strategy/RPGs still sell. Portable platforms for example.
What I, personally, would do at this point is make this franchise more successful in Japan and go from there. Make all types of games but make strategy/RPGs the main series around which the rest gravitate.
We might only see these games in Japan, but at least they would exist. We can go from there.
The ideas brought to life in these games are very powerful. IMO. The gameplay was always more accessible than FE, but at the same time, also had depth.
Letting this lore die would be a terrible waste. Now I understand Camelot's motivations behind leaving Sega, but they should have understood Sega's dire situation better.