Sega fans are still licking their wounds waking up to a world where there will be no Shenmue 3. Sadly they won't heal if we keep on poking in them, but creator Yu Suzuki (Out Run, Space Harrier, Hang On) is, much like the fans, unwilling to let go. In an interview with Eurogamer when asked about a potential Kickstarter campaign he said:
"Yes, I am researching it."
The first obstacle for Yu Suzuki would be getting Sega to let him work on the license again. If Suzuki has good relations with the current Sega leadership this would seem possible. Secondly, Suzuki would have to build a team capable of developing an open world game in 2014. That's a challenge and an expensive one. Thirdly, there are budget concerns. The original Shenmue famously cost Sega more than $100 million to produce, and the most successful Kickstarters have gotten around $4.5 million (deduct taxes and costs for rewards from that and it's a far smaller sum of money).
At the end of the day we'd very much like to see the saga of Ryo Hazuki conclude, but given that it's been more than a decade we'd say the chances are slim. Superslim.