The Witch Is Back: Blair Witch 3

Is another sequel to The Blair Witch Project really necessary?????
Blair Witch filmmaker Eduardo Sanchez and screenwriter Daniel Myrick are in the planning stages of Blair Witch 3, which the two believe will be a sequel to the original 1999 film, just the same as its 2000 counterpart, Book of Shadows: Blair Witch 2.
If our memory serves us correctly, wasn’t the 2nd film a massive box office bomb????
Regardless, both Sanchez and Myrick are eager to start production on Blair Witch 3!
Says Sanchez: “Between Dan and me and the Haxan guys that did the original Blair Witch, we are about as far along on a sequel idea as we’ve ever been… It’s a completely different kind of film, but we think it’s in the original spirit of the first one.”
Thoughts?????