It may or may not be shit. But don't expect it to exactly come anywhere near the original. Hollywood's pillaging of 80s material is borne purely out of a lack of original ideas, retrograde nostalgia trips are the money makers now.
If they make a smart adaptation that doesn't try to cram in too much, it most certainly could work. That said, I'll wait and see how Blade Runner 2049 turns out. We've yet to see how Denis Villeneuve handles epic Sci-fi.