Thoughts on making already existing characters

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This is something I've been thinking about for some time. What do you think?
Sometimes I feel like creating a char that I like, but then I look at how many of them already exist for MUGEN, and it makes me a little hesitating ...
Should creators just make whatever they want, no matter how many of the same content is already made, or they should not make the same chars over and over again?

My opinion, it depends on what for character you really like. If you want to make your own Ryu, just do it. If you want to make a 3D character into 2D, that's new and original. Existing characters can be done in no time than the 3D characters.

Hack, we still getting Ryu's, Kyo's, school chicks, Tohou chars and so on. At least, Mugen will go on until the end of the world (Nah, just not yet).

What do you guys think of this?

I think its worth only if its a fresh remake and offer elements like:

-Lots of new sprites
-Lots of new animations
-Upgrade gameplay to 6 buttons (with new sprites & animations of course)
-Full color separation/smart palette
-Totally new mechanics
-New original specials
-New original Hypers
-NEVER A CHEAP/GOD MODE, NEVER!!!!!!  

IMO "making" an already existing character MUST have at least 4 of the listed elements.

What do you think????

true, innovation (unless radical or revolutionary) only adds redundancy.
about op chars, I made some edits... but at least they're parodies.