Sony probably backed it to give them another edge over the Xbox One. It's an odd decision, however, given RPG remakes don't tend to happen.
I'll be interested to see if they can live up to the expectations we've developed over time. Upon replaying them I discovered that a large part of the depth of PSX and earlier Final Fantasy games was filling in the blanks – particularly when it came to personalities. Without voice acting you can come up with a completely different person depending on how you read them, which leads to different people having dissimilar experiences. With latter FF games they've been inserting a lot of voice acting, which I found very off-putting (it's not exactly A-list stuff, and I find that the personalities they project are strained).
I found Leigh and Kirk's FF7 Letters to be an interesting nostalgia trip. Kirk had been in the industry for a while before playing FF7, having been exposed to its legend on many an occasion, and exchanged letters with Leigh whilst he experienced it for the first time. There's a lot of things my mind skipped over as a kid; always ignored Tifa, for example, when I could have interpreted her in an entirely different and more mature way. It's interesting.
It'll be cool to see, regardless; re-imaginings are often fun ways of looking deeper into a story.