GoW as a live game isn't the most out there thing. Tens of people liked the multiplayer mode in Ascension (?) and the reception to the roguelite mode was generally very favorable. And the core game already had gear based progression that could map to something like what Ghost of Tsushima has (that has hundreds of people who like it...).
But having frigging Bluepoint spend cycles on this? I am sure that the studio asked for something more than just remakes but... what?
I don't think it at all matches "Never ask me about my past" Dad Kratos and nobody likes Atreus enough, but one could easily imagine an "open world" live service game where new gods and factions are added every few months and you do quests for or against them.