The budget for a live action Star Wars show would have to be immense to have the effects be compelling which is definitely doable. The real questions are:
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Who should be writing the show?
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Who should be casted in the show?
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Who should direct the show?
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When should this show take place in the timeline?
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What should the tone of this show be?
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Should the show be more action or character oriented?
These questions are what is going to make or break the show.