You can make a great game from any perspective. I guess you just need the dev talent and vision. Mario 64 was successful after many 2D mario's. It's 2022, Sega should be able to make a competent 3D Sonic at the very least, but maybe Sega isn't as great as they used to be anymore.....
For sure, Id bet someone like Nintedo or Insomniac will make a much better 3D Sonic game than Sonic Team.