I love the idea of 3 and 4 as dream sequences, then Alien 5 dealing with W-Y acquisition of Xeno/engineer technology.
I do agree Alien 3 wraps things up just fine...although bleek, and depressing how it begins with killing off Newt and Corp. Hicks, I do think its a good end to the ripley saga, but making 3 and 4 dreams is a really cool and creative way to extend the universe IMO. I think that the big differences with 3+4 and Alien+Aliens really lends itself to 3+4 being dreams, or more like nightmares!
As far as extending story on Ripleys end, I am confused on why he has said there are two more after Covenant, I dont see why we cant tell the whole prequel story with Prometheus>Covenant>III? This is mainly based on my fear that they are trying to start over with a new trilogy ignoring Prometheus, but really that doesnt seem to be the case so I should just let that fear go haha...
For me, and I see others feel the same way, as long as they do a good job tying together all the arcs, I'm ready to see as many good scifi movies they can make out of this franchise, whether its with Newt in the future idk but its the quality of the stories that I care about. I think its important they explain everything while somehow leaving that which is more interesting as mystery still in tact. The engineers and Xenos should be explained to a point, and then hint at a few possibilities, maybe leaning towards one or two being the most likely...