Generally speaking, I think a roots-film
could work if it understands the roots well, and if it doesn't try to compete with the original film - it's aged well, and there's no particular need I can identify to remake it. Alien Isolation I'd think is a decent example of going back to the roots without competing with the original film, throwing a spin on the single-xeno concept with a similar but distinct environment.
I do think, however, that it's more likely that we'd get what would feel like a more blatant ripoff or retread of Alien - moreso than how people think that every film copies the original.
I personally think that it'd be important for the hypothetical film to consider what the roots really are, beyond just a solo alien, a small crew, and space truckers- I'd like to see more allusions to Giger and more depth to the Alien in particular. It's a beautiful design, but it's like everything after Aliens has kept filling in the depth it could have with animalistic simplicity.
I'd say that more, slower scenes akin to David attempting to connect with the neomorph were more interesting to me than the later scene of the proto-xeno pouncing and tearing people apart like a rabid dog - the original big chap never had to move that fast, always seemed to have perfectly stalked his prey, took them apart at his leisure!
The Alien didn't immediately shred Brett apart, and took it's sweet time with Lambert, yet much of what we get these days feels much more rapid and violent. For example, the proto-xeno in Covenant headbutting Tenesee's dropship repeatedly.
Would a back-to-the-roots film be okay? Would it treat the alien as an alien and not as an angry monster that wants to headbutt you?
Spoiler