I feel for Shane Black.
This film must've aged him something terrible! The numerous hiatuses from Twitter etc. due to backlash. I think the studio stepping in has ruined it, personally.
Sure the underlying problems were there; but going off recent posts on here it looks like there were multiple endings and, had he and his team been afforded the time to work on what was wrong with their script as opposed to shoe-horning all kinds in and out of cuts, then I think we'd have ended up with a much better body of work.
To answer the OP - I hope this film doesn't get a sequel; but I hope the franchise does. Preferably with a direct sequel to P2 and the retconning of this. It's a shame as the Loonies were actually very good - Holbrook in particular, so it's a shame to lose him/them.