My opinion on all this is that sequels (particularly sequels to iconic movies or series of movies that comes years later) never seem to live up to people's expectations. Of course, I realize that it's impossible to always please everyone- some people may love a movie and others may hate it- and both groups may be passionate fans of the original movie- but yes, there will always be those differences of opinions.
With a movie like "Labyrinth", I LOVE the 1986 classic film! It's a great, fun movie that I've seen a number of times. While I generally enjoyed the "Return to Labyrinth" manga series, I don't see the need for a sequel to this movie.
As someone else already said, it's highly doubtful David Bowie and Jennifer Connelly would return and even if they did- would it really work for the ages they are at now? (Not that they are that old necessarily, but Bowie is 67 and Connelly is 43)
And as Dr.Tooth mentioned- I don't want to see a "Hook"-like movie about Sarah's kids. (Though I do like "Hook" a lot, by the way.) What might work a lot better is the prequel or sequel or whatever it is to The Dark Crystal that has been talked about- in that one, you don't have the issue of age to deal with since no human characters are in the movie.
(Though even so, I'm still not sure that "The Dark Crystal" really needs any further movies either.

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Sometimes sequels have worked out really well and I've been really glad for them- I honestly didn't feel like a Toy Story 3 was needed, but I was pleasantly surprised when I saw the movie and now feel like it's quite possibly the best of all the Toy Story movies.

(Even so, I still don't know that we need to "wait for Tom Hanks to make Toy Story 4"

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For another example of sequels to famous movie franchises that came years later down the road- "Rocky Balboa" and "Indiana Jones and the Kingdom of the Crystal Skull" were both great movies to add to those movie series and I love both! (And for the record, I would love to see one more Indiana Jones movie with Harrison Ford starring as Indy- but the series probably needs to stop after that.)
Of course, the problem is that the companies are always wanting to make money- and dedicated fans are always going to go see the various productions just to check them out- and so the studios and companies keep cranking out sequels whether people really want them that much or not.
As long as there's a good possibility of making some money off a famous name brand.......
Case in point- I really don't feel there's a need to make Star Wars Episodes VII-IX, but apparently Disney is going to go through with this. The good news is that Harrison Ford is back as Han Solo, Carrie Fisher is back as Princess Leia and Mark Hamill is back as Luke Skywalker, along with Anthony Daniels as C-3PO, Kenny Baker as R2-D2 and Peter Mayhew as Chewbacca- for those reasons, I will be excited to see Episode VII. And I'm hoping to be pleasantly surprised- we'll see.
