Are you insane?
The world is so PC now, an attempt at a new American pie style movie will be the most unfunny Gen Z woke fest ever
The main character would probably be a black transgender dwarf who gets bullied for supporting Palestine and by the end comes up out the closet to be accepted by their diverse circle of immigrant friends
I'm chuckling a bit at this, as IIRC people were saying the same thing about Revenge of the Nerds and Porky's in the late 90's and early 00's, and then American Pie (and about 101 similar films came out when it did well).
What tends to happen is that the studio's stop making these sorts of films because the money dries up due to so many really poor ones made, often of increasingly low quality and lower budgets until they're only viable as straight to video tax dodge schemes.
All it will take for a new wave of them is one or two that do reasonably well at the box office or on streaming and then we'll be wading through them again.
Every type of film has a cycle like this, very little for a long time, then one does well and the studios are scrabbling to film the hundreds of scripts in the same genre that they've been sitting on for years.
Whilst it's far from solely nostalgia driven, I do think it plays a part - if you were of the relevant generation who were coming of age around the release of American Pie, you'll have a certain connection with it.
I think if you were to watch it for the first time today as a 40 something year old, you'd probably dismiss it nearly as readily as any other recent teen comedy - I say 'nearly' as American Pie was definitely a step above the run of the mill teen sex comedies of the time, as it actually bothered with the characters a little bit as well as making sex jokes.
Pretty much this, American Pie was something that hit home and did well because it was funny, of the time, well written and not just "look boobies" or "panty raid, panty raid, watch the girls in the shower" with no effort on characters.
People that watch it for the first time today probably won't click with it the same way, not just because the attitudes have changed a fair bit but because the specifics now date it in other ways.
If I'm honest, I enjoy a lot of these sorts of films, including the likes of Batchelor Party and even Porkies to an extent, partly because I do watch a lot of film and TV from those time periods so it's fun watching some of the comedies as well as the horrors, sci-fi, straight drama etc.