As far as spinoffs go, I’m sure Disney is going to continue to ride this nostalgia train before creating anything outside the OT influence.
As far as this reboot of the PT goes, that’s not a realistic option. As others have said, the PT becomes more tied in to the OT and the continuing Star Wars universe as time passes along. Hell, Darth Vader is going to battle Darth Maul this week on TV.
A compromise would be to do spinoff films during the PT era using PT characters/actors to fix some of the shortcomings. TCW showed that quality stories can be told using the source material.