Yeah, by this point Iīll rather see a reboot of some kind, as itīs too late for a part 5, just as with Ghostbusters 3, Evil Dead 4 and lots of other movies that have been promised sequels for decades now.
To be honest, Phantasm part 3 and 4 was pretty disappointing for me.
And I just donīt understand why he left a cliffhanger at the end of part 4, when it was supposed to be the last one. They should just have defeated Tall Man at the end.
Coscarelli should stay behind the directorīs chair, but do something fresh and different with the Phantasm universe, but keep the core of it...And of course the balls