It could work.
ME 1: Same exact game but with nicer Graphics, and less clunkier gameplay.
ME2: Polish the graphics and gameplay, but tie it in to the story better.
ME3: more or less the same. But if you promise choices matter, you best deliver. And of course....avoid the same mistake with the ending.
Correction. ME1: Fix the Mako mechanics and diversify the planet terrains and building assets and take the Lancer mechanics from Citadel and redo the gunplay, lastly redo the entire purpose of the Conduit so it actually matters, and isn't a pointless plot device that makes the antagonist look retarded.
ME2: Don't retcon the entire direction of the plot and universe in the opening 5 minutes of the game, instead create a proper sequel where you actually do what Shepard said he was going to do. Search the Galaxy for how to stop the Reaper's from ever arriving to begin with. We scour the galaxy, searching ancient ruins and uncharted worlds, searching for any and all answers that might help us. No ham-fisted Cerberus nonsense, no nonsensical Shepard rebirth and no blowing up the Normandy just to bring it back again 10 minutes later. Don't retcon Companion personalities, like Liara, into something she totally wasn't in the first place. Now instead we use her for her original intended purpose. Her genius level of knowledge regarding the Protheans and how that will help us from preventing The Arrival.
ME3: This game would have to be entirely redone, imo. The entire purpose was to stop the Reapers from ever arriving to begin with. By having the Reaper's successfully reach us, Shepards mission has frankly already failed. IMO ME3 should have instead ended with us finally discovering the big secret, how to basically cut them off from ever coming back, leaving them stranded forever in the voids of Dark Space. This of course requires that the Reaper's can't just go "Lol we'll just FTL there anyway". Because otherwise the ENTIRE Citadel relay plan...is just retarded.