I wouldn't say there's no chance of it happening, but given that the distribution rights are split between three or four companies, it'd be a nightmare to work out the logistics of who would obtain publishing rights. For instance: Sony published it in Japan and owns the Demon's Souls IP, while Atlus and Bandai Namco published and localized it in North America and Europe respectively and still maintain the servers for those regions. If Sony decided to remaster the game, they'd likely have to work out a deal with them, which wouldn't be easy given how much prestige the Souls series carries these days.
I agree, it would really take some insane dedication by these companies to get that remake out. I would love it, but I'm not holding my breathe.
I wear a watch everyday. I have a Timex Ironman, I love it because it does exactly what I want without the weight on my wrist. As someone that works in education it is amazing how valuable a wrist watch still is.
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