This is going to be interesting. Personally, Shenmue is the most life-affecting game I've ever played, and despite what its cult status may suggest, the ways in which it clicked with me turned a good number of other people away. Shenmue is a slow moving game with an obsession for small details (the lead character, Ryo, walks up and down stairs correctly, which is basically unheard of even in modern games) that was ultimately overshadowed by one where you could steal cars and run over hookers.
With a cliffhanger sequel finally in the works, Sega has gotten off of its arse and is preparing for the original two games to see a current gen release. Going by the newly-released trailer, the visuals are more-or-less untouchedm, with 'fully-scalable screen resolution' being the only comment made there.
Mercifully, though, there will be an option to switch to a new, modern control interface, as well as the ability to play in either Japanese or English (and unless subtitles litterally give you a rash, you really want to play this one in Japanese).
Shenmue 1 & 2 is slated to hit PS4, XBO and PC come August 21.