They just need to get a solid PS2 emulator going and re-release some of their classic titles with upscaled resolutions and framerates.
I don't think the franchise, at least right now, is worth the attention of a triple A studio remake, but I think Sony in general need to be doing more to preserve the legacy of their franchises.
Sly Cooper, Wipeout, Motorstorm, Killzone, Resistance, Twisted Metal, Socom why funnel so much money into these intellectual properties only to allow them not just to fade, but disappear entirely.
Then later on they could at least consider rebooting these franchises, but as is they're becoming so irrelevant that they would be worth less than a new IP.
Even God of War, which is still one of its flagship franchises, doesn't have its original two games available on PS4. It's hard to understand why this is, honestly.
If we compare to a company like Disney, they understand the importance of preserving their brands by making them available to new audiences. In Disney's case, they can reposition and reboot these properties, for continued value (though I must admit the disney remakes are terrible). Sony just don't seem to get that.
But, I suppose their banking on Playstation Now to preserve these titles, or something like that. Which is a big shame, because I don't see Now taking off any time soon, or offering the quality of experience that's appropriate for revisiting these titles, even.