Let it be said that one of the most underrated racing games on the PS2 was Tokyo Xtreme Racer Drift 2 (also known as Kaido Battle 3). It would seem highly unlikely to see this series revived for the PS4 or even if a one-off PS3 title comes along. This series has been around the block. It dates back to about 1994 in Japan. There were games in the series devoted to highway battle in Japan, drifting on mountain roads and city streets, and there was even one game in its history where you only raced and tuned motorcycles. So this series is no upstart.
I don't know... maybe if this series were revived, I'd want to maybe see a combination of highway battle and drifting. If you're a veteran of the series, you know about the big time gangs like the Thirteen Devils and the 12 Zodiac. I can recall the Kingdom Twelve from TXRD2. Could you imagine Speed King with a bonkers version of the latest Nissan GT-R? What Wanderers would challenge you either on the highway or on the mountain passes? Possibilities exist, but something tells me that for as much as the Tokyo Xtreme Racer series has been around, it will probably never be revived. And if it did, it may not be as memorable or as engaging as any of the more classic titles in series history.
Through all of this, "never say never" is always good advice...