If I never hear the words "reboot" or "remake" again in my life it will be too soon.
IF they actually did it like Gamefreak does though, it wouldn't stem the tide of new content release, it would just be filler. Not sure how realistic that is, but it would be pretty awesome to have the option to play a Morrowind that looked as good as Skyrim. Don't lie to me and tell me it isn't something you think about.