Very cool! That said, for me the second half the series needs redoing more than the first half. The early stuff holds up well for me, and you still had a nice 1.5 ch per episode up through Water 7 etc. East Blue is pretty terrific as is to me.
So this is cool if they pull it off, and it's fun they're giving it a try. Just for me I'll need them to get to way later stuff to personally get a big kick out of it, and the original version of the anime (especially the early stuff) will always have some extra nostalgia and connection for me I think.