Something Amyss said:
Media often becomes generational, and that's okay. We wouldn't have Batman TAS, the versions of the X-Men everyone loves, any of the modern Sherlock Holmes versions, etc. without them. For better or worse. I mean, I personally think the Nickelodeon Teenage Mutant Ninja Turtles is among or the best version (and being from where I'm from, I actually grew up on the Mirage comics), despite clearly being aimed at a modern audience.
So maybe this sucks. I don't know. I'm more concerned with what the Power Rangers' costumes look like. I think the tone of the costumes will tell us more about the final product, so I'm going to worry more when I see them.
The problem comes in that in almost all cases, there are Iconic parts to the character design that are just...part of the character.
Batman always has a utility belt of some kind, with a dark, bat themed outfit. (granted, these are huge generalizations)
The X-men all have their little bits and bobs that tell you who they are, like Cyclops' Visor or Storm's arm-cape things and glowy eyes.
The Teenage Mutant Ninja Turtles are all green, with unique weapons and their respective colored headband. Blue/swords = Leonardo, Red/Sai = Raphael, Purple/Bo = Donatello, and Orange/Nunchaku = Michelangelo.
This "New" Rita Repulsa, if all you had done was show me the Picture and tell me she was a modernized MMPR villain (without telling me which one), I'd have immediately thought it was the minor villain Scorpina, a completely different character from what they are saying she actually is. Because she looks nothing like Rita, and a lot like Scorpina.
Rita had big, crazy hair, a large and arcane looking magical staff, and yes, she had the Madonna cone boobs top. Also, she had a Red and Gold color scheme.
None of us are saying that they had to make her look exactly the same, but this new one doesn't have ANY elements that correlate the two to each other.