That's an interesting question. As-is, my guess is that his ideas and symbolism might get more credit because we have a slightly older gamer base - or, maybe it's better to say that the gamers inclined to play a game like Xenogears are a little more diverse in age and background now - but the execution would draw a bad reaction.

If it were updated to Xenosaga's technological level... I don't know how it would've been received. Putting so much text to audio seems not to work very well. A lot would also depend on the acting, which would have to be spot-on in some of these scenes. If they didn't hit the mark, something like the scene in the Merkava (after the Opiomorph fight) would descend into utter ridiculousness.