If there is a Shenmue 4 it must go back to classic camera in first two games and as seen in this fan made mod. The FOV is far too restrictive and as can be seen in this video with adjustments it can look significantly better-
I will try to be on topic with a mix of things...
IMHO: Shenmue utilizes an inversed human movement detection. In a simple but erratic and vague way of trying to expand on this, it's like if the character is moving in place fixed, the world moves around him, and make contact and collisions relatively with his movements. The best example is how he takes a ladder. It's similar to how the minimap feels visually. Feels like an ilusion. The fov helps to put the player attention on the world, and not on character footsteps. In some way hidding unrefined details, in others, not generating brain confusion. With the moded fov, you will see good and clear the footsteps, as the main spot, that particular spot of the system, but as a whole picture the feel is unrealistic. It's like if a ladder moves towards Ryo, and he becomes attached to it.
Common on every modern game. More evident in fast open camera movements. In a racing game It feels as if the car turns and moves less than the world, despite the car being loose and less physics weigthed, because in theory the car is moving, not the surroundings.
New generations would moan if the movement isn't loose and dynamic.
I prefer two old school things. Weight, and illusion. Hidding things your brain don't want to see. Much better is the sense of friction with weight on physics over the dynamic and fludity wich led to false sense of aproaching and erratic distance feeling. Hard to explain. Easy to see if you like substance, and feel disconnected from floaty speeding.
I feel the "Tank control" is more reallistic to the brain and command inputs of substance players.
The "no lag" movement for impatient, speedy players.
The same for the camera as is integrated with the movement. In a first person shooter this is over exxagerated in all ways. The new generation of players want to see more than the eyes can see, move faster than his body feels, in more frames than time can spread. Be it for competitive, unpatient, or loosey feel. Like hitting buttons to pass a menu. Unwanting loading screen.
Like Unwanting do not run sections that is intrusive for his fast peaced skills, or lack of concentration depends on how you be.
Faster, faster, more data, faster, evolving, evolutioning faster , more data, more kills , dried brain , repeat
Waypoints, taking hands tutorials, trophies, guides, just to show achievement or false supremacy to the game or to others. Insults, ragging, and fists to the table, breaking controllers if the game won't tell you , or won't let you win, for uploading a day 1 playtrough. The community's seeing and the need of being watched, make it easier, the game or the message isn't important, it's the e-player-the hatingavatar of todays cause paying dolars, escape world.
IMHO the director, in this case's Suzuki-san, took decisions for reasons not all players seems to dig in, or sees.
With the technology and money at his disposal.
Dreamcast was the top of an era. Post 2000's is the anthagonist of it. Systems as egines and way of function and things, can't replicate the top higher point of engine / creativity of Dreamcast pre 2000's. It won't feel the same with modern technology cause has different purposes, bound for different contexts, it doesn't mean is better, doesn't means evolving.
Like Shenmue vs Grand Theft Auto. Wich has better technology? Wich is more reallistic? Wich is better? Depends on players age and fom of being. For some of us, the conscious part, it's clear why one was better marketed and sold.
Shenmue is like a mix of Oriental daily life culture with American hero movie culture...So in Shenmue you play as a good character, slow peaced, with values, in an epic heroic honoring form, with a will to listen, to learn, and with inner respect, between lots of other things, and that stimulate the players in a unique approach.
This principal character make things in a good way, with bad ass style, with better pose and posture, better gesture than any other. And he is relatable. He is human, and with a normal body. In a stupid way of describing a lot of controversial world daily things, he doesn't uses guns, he don't fuck prostitutes, doesn't plant bombs, doesn't has the new aquaman body type, nor the tired worn beard cliche, isn't theft, or throw powers. Being not an otaku, neither a The Rock, Vin Diesel, or new generation slim show off or like vampire white stuck up. Just simple as humility.
The old engine was developed in this context. When Sega made that context.
The game was a media to bring a message.
People that connected or felt linked to the message, wants the other side bigger mass of people to couple and become or reborn back to good side of things...
Some of us, don't want Yu's cave in with the pressure, we don't want Shenmue to become a part of the other side, the bad side. Don't want to watch it breaking, to accomodate the empty soulless massive side of nowadays process. In btw examples, Ps2 was an error, UE is an error, we are moving in enemies territories... Netflix series is an error.
This is not nostalgic, you seeing all wrong. We want people from the bad side to recalibrate and accomodate to this proyect, beyond the game, as life would be prettier if so...As a game as an reflect of what are we, how you doing it.
Don't break it, don't claim it's broken, don't judge as you know the potential...Because the potential is already there.
In these times of obscure and saturated empty content, Shenmue is an unique product. And times are changing with the explosion from the overall messy life visions and content.
So as improvement, or as a wish better called , I'm confident of leave things as it is...Take it as it is. Heading there. Time will give Yu Suzuki reason, he was ahead of it's time before, so now is there, some people are tired of last 20 years of nonsense, some will take it further, some will make arrepentice choices, some of we just witness, cause our feelings about this context...The external of this game is broken, but fixing slowly.
This isn't fannatic, fanboy, or wathever. Asides gaming, I too, like in movies, or wathever, to tired of the bads being justified. It is too much.
So, in this game in particular or series, you change for the game or go home, leave something made well with soul, dedication and passion, alone.