From other interviews and articles I read, it’s a line for line remake, but they tried to make it as serious as they could. Bob Odenkirk said something along the lines of, “I tried to play this part as if I were handed the script,” meaning he’s not intentionally hamming it, but some of it obviously can’t be taken seriously. Also, it’s 100% green-screen, so take of that what you will.

I would be interested to see what a rewritten version would look like, maybe take some of the stuff that didn’t make it into the final version or making some fan theories canon, flesh out some subplots etc. Ultimately I think that a rewrite would just end up being a boring drama with an uninteresting plot, because underneath it all, Tommy didn’t write an interesting story. It’d probably still be popular with existing fans, but I think that making it “good” would be a hard derivation of the original, to the point that it might not resemble The Room at all other than character names.