If a visual novel means having Kenji Miyawaki sprites/CGs, I sign directly.
Thing is, people advocating for different medias needs to understand something: It wouldn't be Shenmue anymore.
And moreover... You dont switch medias like this and call it a day. It's fine to write a book. But if the writing is as clumsy as Shenmue III, what's the point ? It's fine to make an anime or graphic novel, but if the scene directing is like Shenmue III, what's the point ?
There's also things that games can transmit that other medias cant. The CD4 of 2 or the different set pieces ? You cant reproduce that in a game.
I think Shenmue should remain a game. Bit I also think that if budget is a constraint, they should trim the fat. And if the team think the fat is the mood, setpieces and narration, then I think they lost something in the process. I think that making a life simulator isn't worth it anymore if you dont populate it the right way. It's nice to have drawers to open, arcade to play, shops and such. But if your world is populated by random generic characters, you just got the wrong goal.