These are artworks, and even though they are made with limited technology they are built to those constraints. You can't update the medium and not lose the essence of the piece.

You don't make super mario more appealing to modern audiences by rendering it from first person. We should build emulators so that people can play the original. Or you can draw inspiration from the original and make a new piece that works in modern ways.

So I think it would be waste of effort. Colorizing historical photos is cool, but I don't think it's the same thing.