Okay, that script sounds like crap, and yet considering it was from within that 2005-2010 period, feels like the kind of bastardization that would've come out during that era.
To me, the majority of the 00s felt like a stain on horror. Sure, there were a handful of REALLY good movies, but there was a crapton of really Producer-driven/"Lets pander" horror. The changes you mention seem to lean that way.
I think post-2010, horror has gotten its footing back and there more more attempts at making effective horror. Don't get me wrong, there is still crap horror(The Gallows) and producers are still driving horror, but it seems like horror producers know more about the genre(and take chances) rather than are like, well, the Weinsteins ("Hey, tap into that MTV gen market! Put a bunch of popular music, Busta Rhymes doing martial arts, reality TV angle, stuff that kid's dig! That's still cool to say, right? 'Dig'?" Only good thing the Weinsteins did, IMO, was The Burning(well, and producing the first Scream, even though I didn't care much for the later ones).
I can guess that with the cast we have now, there is at least an attempt to make a movie with heart, which I doubt that original version even attempted to try.
It IS funny, though. I remember writing a joke concept about how a pandering version of It(aimed at the MTV gen market) would basically merge both eras(kid and adult eras) into one, the Losers would be teens(high school seniors with plans to leave Derry, go to college and have a bright future ahead of them), lots of popular licensed music, sex, drug-use, Pennywise(while still supernatural), is not as imaginative and is just a straight up slasher villain, all the other "Losers" get picked off one by one, Bill dies during the final battle and Beverly is the "final girl". It was a total joke based on how studio suits could ruin King's story by watering it down and pander to the lowest common denominator. I also wrote a joke concept for a Pac-Man movie set in a post-apocalyptic New York City where a group of PACs(Paranormal Armored Commandos), a special marine unit protect the survivors in the labyrinthine ruins of Manhattan from mutated "Gene Ghosts".
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