No thanks.
Xenoblade X's sequel needs so much change that the people who wants a sequel will not like it.
And keeping the Xenoblade X name will just scare away the people who didn't like the game on WiiU. And yes, they are a lot of people who didn't.
My take on it?
Take what works in Chronicles X, take out what didn't, and make a spiritual sequel. And make it less of a grinding repetitive overcomplicated niche game.