If possible there should be online feature and a vs mode and story mode...
Rare stopped caring about its history and is also owned by Microsoft, who wouldn't allow them to make it even if they wanted to.
The only use Microsoft has for Rare is Kinect & Avatar development, so highly unlikely to happen.
Visit my dev-art, if you want a laugh.
It's okay, sometimes I forget where Rare really is these days too. They aren't with Nintendo that is for sure, but they don't seem to exist within Microsoft anymore either...