I feel like how 'good' a game is, its obviously going to be different for everyone. I think the thing he's trying to do here isn't make a game thats better than FF7 as far as gameplay/story goes, but rather make something that is critically acclaimed outside of its niche. I mean FF7 is famous, even gamers who dont touch the RPG genre and non gamers alike have atleast heard of it, its just iconic. I feel like he's looking to create a new icon for the company.

FF7 struck a note for many reasons. Its manga/anime style was gaining popularity in the west at the time of its release, as was the PS1, the console it released on. There werent many 3D rpgs around, and the characters and the story found the right balance with the people. It was something very different. These days, its hard to make something different because everything has been done, so you end up making things that arent as good for the sake of being different (and these are the things no one has done because they werent good enough to do.) So finding something unique and amazing is a very rare occurance.

To achieve this, SE will need to make something truly ground breaking and revolutionary that will cause the gaming world to stop and take notice of it. To praise it, recommend it, talk about it with everyone they meet. If its truly good, it will still be here in 10 years and then it will have that nostalgia factor. Another hurdle they face is that this generation of gamer is much harder to impress and has much higher standards than 10 years ago. The only thing people seem to love more now than a good game, is a bad game that tried to be good, so they can rip on it.