The fate of this franchise has been quite weird. It started as a cultural phenomenon giving birth to countless parodies, references, and attempts to recreate the magic of the original. However, the latest entries in the series were not as successful or engaging. The studio tried to make another big hit with black&white shaky cam and pseudodocumentary style. However, their efforts seemed futile. The films made money but never became as huge as the first one.
In the last-ditch attempt to make the film a thing once again, the Bloomhouse studio is bringing back Christopher Landon who created scripts for 5 films from the series. He did not write Paranormal 6 which was a much weaker film in the franchise compared to other entries. The return of Landon means that the story will be a little bit tighter and probably once again be just a regular found-footage feature with some interesting and frightening episodes.
The sad part about this news story is that Landon is not actually returning to be a writer or a director. As he mentioned on Twitter, his role is limited to helping and consultation on set. He will not have a prominent role in the production. While fans were quite disappointed by this clarification, he also hinted at possible new developments in the universe of Paranormal Activity. It could mean something truly interesting and original for fans of the series.
It is understandable that Landon does not want to occupy either the directorial seat or the position of the writer. He is currently busy with multiple projects including, presumably, the sequel to Happy Death Day 2U.