Let's pretend that Phantasy Star V on the Sega Saturn exists

Phantasy Star 5 would probably still take place in the Algo system but perhaps some more locations should be added, perhaps neighboring star systems?

It is a given that the storyline would be very different from the previous three/four games.
Lets take in account that the writers would also be following how other JRPG franchises have been developing campaign wise, rather than repeating the scenario of Phantasy Star 2 (a seemingly Utopian world that hides dark secrets) or Phantasy Star 4 (a world struggling to recover is suffering various setbacks while an ancient evil is about to achieve its goal, the result of culmination of planning for thousands of years), the set up should be some thing new and different, something the previous four (five if we take Adventure into account?) did do every time.
Perhaps the plot should involve the Great Light, showing what its nature is like and deconstructing the trope that light equals good. (in my take the Great Light, thought different from the Profound Darkness would be immoral and unsympathetic in its own way)

The idea to add some neighboring system(s) could be a good idea...but is it not hard to find another scenario with this idea ?
But we are not the people in charge of a scenario and I'm sure that them would have been able to find something a little bit original (or not !)

Well, they could just go back to the old plans and revive the cancelled Phantasy Star game that was going to be about the continuing adventures of the Alisia III.

That was a plan? I didn't know that - do you have a link for that because that would be interesting to read.

I'm interested by a link too ! If there was a plan, should be very interesting !

I would guess for that era, a series with awesome sprites such as Phantasy Star, would work really well in a 3d environment the same way that another turn-based rpg, Xenogears, did with the quite literal 3d environment in that game.

Another option would have been sprites on extremely detailed backgrounds, as in Chrono Cross, which was extremely, extremely detailed.

Both would be equally plausible.

As far as plot, well, setting, maybe they could have done something like this:

Algol in both the game and real life, is in the Andromeda galaxy.

Not in real life, Algol is a binary star, or was thought to be. That is, 2 stars.
But its actually 3 stars. 2 fixed stars, and the 3rd smaller star is elliptical in orbit.

The setting could use either the binary star thing, or the 3-star thing, where the aeroprism showing the other 1 or 2 stars, and that affecting the story...somehow. This could be independent of Rykros, which only existed to hold the Guardian weapons/armor, and selectively tell the story of Algol's genesis. Who knew if Le Roof was being completely honest, after all, or merely revealing what The Great Light wanted revealed, which may have not been "everything."

I assume evil could not truly ever be defeated, after all, even The Great Light couldnt defeat it permanently. So suppose in 1000 years, Dark Falz comes back as usual, but has grown genre savvy, and tries to, and succeeds in killing Le Roof of Rykros. That would indeed mess things up. And by 1000 years time, Wren, Demi, and whoever is Lutz would know of Dark Falz, Profound Darkness, and Rykros, muchless may or may not suspect something wrong.

How could this fit in with a 2nd or 3rd hidden star? I don't know.

Still no plan or link ? Unfortunately... But thank you dear Zio_Falz for all this great text !