I don't think a sequel to the Kanto games would be made for real though. G/S/C was pretty much the sequel, remember?
Is it and it isnt. Only thing that changed was Fuchsia's Gym leader. This sequel Kanto is the main island not an attachment which G/S/C makes it to be. The Storyline for the New Team Rocket kind of made them weaker then the original. Yes they Obliterated Cinnabar Island. I dont think there was enough done with G/S/C storyline wise.
Plus I think some people could wonder. "What has happened to Kanto over the years?"