Considering the two most successful and popular games in the series are the original (SNES) and StarFox 64 (N64), it makes the most financial sense for Nintendo to just make a new game along the same gameplay formula as those games.
Now of course, innovation is good, but they shouldn't change the formula too much. Part of what makes most of the other Nintendo franchises so successful is that they keep what works from the old games and uses them in the next game. But for Star Fox, they seemed to forget that and just tried to re-invent the series every game. Or worse, tried to make a whole new game while tacking on the 'old' Star Fox levels and gameplay here and there to tease the fans of the original games.
So, like Nintendo has been doing with most of its series this gen, I think Nintendo needs to try to get back to its roots and create a whole new Star Fox game that combines all the best elements of the past games in one. In other words, they need to make an 'Ocarina of Time' or 'Mario Galaxy' for Star Fox.