The only way that a Follies film would make its money back is if it were loaded with film stars (that means stars who register in the "general pop" consciousness today, not a Murder She Wrote "who is that" reunion).
And they shouldn't mess with updating the era(s). It should be an "Ice Storm" kind of movie, grounded in the time period but relevant and resonating today.
The problem with casting it younger (and actually age-appropriate) is that people in their late 40s today don't think of themselves the way these characters do. Maybe that would work, but I honestly think it would turn off even the "art house" crowd of their peers.
If Kate Winslet and Leonard di Caprio are reflecting on their golden years, it will send a chilly "reality check" to audiences that could easily result in a backlash or a rejection of the whole premise as being ludicrous and maudlin.
It's a tough enough "sell" as it is, and a reunion of self-aware, self-centered "show people" begs the question to most (non-theatre) people as "who the f*ck cares?" "Get over yourselves, grow up, and move on!"
"Jaws is the Citizen Kane of movies."
blocked: logan2, Diamonds3, Hamilton22