Assuming a Matrix reboot would retain some or most of the same physics and story foundations, there are so many different characters and situations that stories could revolve around within this eternal version of 1999.
And there would be no reason to needlessly ramp up the technology factor here, because again, it’s 1999.
The first film in particular hinted at just how widespread the insanity could get within the Matrix world, so long as there were some unplugged rebels around to mess with everyone else’s perceived reality.