Real talk, I don't expect Shenmue III to ever be made and I'm fine with that. What I want is an HD Collection in 1080p, Japanese voices, Passport esque models, and modern lighting. Since Sony helped revive Grim Fandango for a new release - an overbudget game that bombed in 1998 and formed a cult fanbase - it's not impossible given Yu's recent relationship with Sony.
However, the problem is EXPECTING that to happen. It'd kick ass and would totally nice if it did happen, but expecting it?