Whatever happened to Star Wars: Republic Commando 2?

We are closing in on eleven years since the release of Star Wars: Republic Commando. The game never got a sequel, in spite of numerous rumours throughout the years. Well, not mere rumours it would seem, as a sequel was indeed in development for a short while.

The revelation comes from developer Brett Douville, who served as the team leader for the project back in the day. In an interview with Cinelinx he explains what the sequel could have looked like, had it been fully realised:

"There were two competing stories that were being pitched, one being developed by Tim Longo and one by lead level designer Kevin Schmitt. In one, you would have played the side story of Revenge of the Sith and carried out Order 66, hunting down Jedi as a team. In the other, Sev would have been the first man in the Rebellion army -- the tagline was something like, 'Every Rebellion begins with a single soldier.'

Tim's plan would have had Sev start the Rebellion army, training a new generation of soldiers to fight the Empire: In my own imagining, I like to believe he'd go after his pod-brothers and counter-program them so they could fight the Empire together. I don't recall what Kevin Schmitt's would have entailed, but I like to imagine there would be a mission where you'd rescue him.

These didn't happen and maybe were never even formally pitched as a result of the company rebooting itself, as I mentioned. Very few people involved with Republic Commando ended up staying on as LucasArts attempted to find its way forward."

Is it too late, or should Star Wars owner Disney pick this up again?