Realistically, I think the only JAWS film worth making at this point is a fictionalized riff on the production of the first film. Pick who you want for your perspective character (Spielberg, Carl Gottlieb, a made-up Martha's Vineyard resident) and make it a madcap misadventure in moviemaking.
weinberglet's pretend: Universal announces a screenwriting contest for Jaws 5. What's your pitch?