I'm very sad that the remnants of that game weren't used to make a new IP.
I know right?
That game had something that most of RE4 lacked and that is actual HORROR.
The game was set in a spooky castle which had demonic puppets and ghosts coming at you. Doesn't get any scarier than that lol. But I can however see why Capcom would change it to what turned into RE4. The resident evil series has never been about the "supernatural" and has always been about "bioterror" so it would have been out of the traditional RE element to have a game like that.