Honestly though I admit I am rather interested in the project. not only because of it being a Alien movie but because it does feature those three, even if it will retread old ground.
But if the project was canned and Blomkamp moved on to a new story I really wouldn't mind (Outside of also feeling bad for the actors). as a new story is what is needed for this franchise to survive and grow.
This whole thing does just make me wish even more that Hicks and Newt had survived the crash landing in Alien 3. and the story had followed them from than on like in the original EU, so that way this whole ret-con business would not exist and we could have moved on to new stories.