Ok but realistically, an HD remake of FF7 is a huge amount of work, incomparable to either the two DS titles you're talking about, or the FFX/X-2 HD remake.
In numerous interviews, the devs have said that what players are asking for basically requires them to reconstruct the game from scratch, and it's true.
The FFVII remake that would satisfy its fans (if such a thing is even possible) is probably a more costly and time-consuming undertaking than anyone realizes,
And prior to the artistic conceit of "we want to top it, first" that was the reason given. For years.
An FFVII remake is not, by any stretch of the imagination, "easy bank." You have to spend money to make money.
Is there a nigh-guaranteed return on investment? Probably. But what else grinds to a halt while they set aside the years it'd take to make it?
What kind of damage would that do to this incarnation of Square, where games like Deus Ex, Sleeping Dogs, & Tomb Raider can sell millions of copies and yet - absurdly - be considered failures?
If they go with pre-rendered backgrounds, they couldn't use the existing screens because realistic, revised character models would have to be scaled in proportion to the objects on the screen: quite the feat when you're making the transition from blocky Lego men with Popeye-sized arm tumors to dour Advent Manchildren. FFVIII was built with tall characters in mind: VII not so much. But if not pre-rendered backgrounds (which I think are part of 7's charm), then what? Fully 3D environments crafted from the ground up? Some have asked for that: to explore a world of GAIA every bit as expansive as Skyrim's. FFVII is a HUGE game. But regardless of the visual style they'd have to decide on, replicating and redesigning and retexturing every screen of every environment, lighting it, creating new 3D models of every motorcycle, car, and moving object, every monster, NPC, item and summon, and adding new particle effects for spells and attacks and bringing them up to modern standards is a tremendous, costly undertaking.
And that's assuming Square manages to leave well-enough alone, which we know when it comes to FFVII, they can't. Its story was already a convoluted mess piecemealed together by several different writers, and it only got increasingly overcomplicated and overexplained in each successive spinoff. The amount of effort they would have to put into constructing this remake practically guarantees they wouldn't resist the pull of stuffing it to the gills with extraneous shit, or gutting it out of necessity.
But for me, the bottom line is that however much we may want it to, not even Squenix releasing this remake will save the company from its Final Fantastic Failures: which is a lot of what this remake clamor is about, imo.
Today's Square Enix will probably never again be the Squaresoft we fell in love with; I don't even think - going by virtually every thing its done with the cast since - Square even realizes what it was about FFVII we did fall in love with.
That's enough to make me not want to see the Frankenstein they could yet turn it into.