Because I thought it was fucking terrible. A generic Hollywooded-up version of what felt so creepily different in the original. Also, faithful? It retained "Leatherface, cannibal family, teenagers dying, Texas" and then pretty much made it up as it went along, especially that godawful ending.
For that matter, what's with the love for Halloween 2? I thought it completely lacked everything that made the first movie so great, and was basically a Friday the 13th flick with a different mask. Especially the ridiculous finale, where they went so over the top in Wile Coyote-ing Michael to death that I never once bought that he could've lived through it.
Speaking of "Friday the 13th", there's going to be a remake of that as well in the future. Michael Bay is producing it, and the director of "Texas Chainsaw Massacre: The Beginning" will be directing it.
I think Friday the 13th is a much better choice to re-make than Halloween.
It took until Part IV for the Jason character to really hit its stride, anyway.