I’ve never seen Van Sant’s version but I always chuckle in admiration when I think of it. Here’s my theory of the point of making that film.
Ok, say you’re a director, and say Hitchcock (or Kubrick or Kurosawa or Ford or Wilder etc) is your favorite director…
and say Psycho (or A Clockwork Orange or Ran or The Searchers or Sunset Blvd. etc) is your favorite movie by your favorite director.
Say you’re obsessed with the movie, have watched and studied it numerous times and would love to re-create it, not for ego or that you can do better or that it will make money or anything like that, but
as a pure cinematic exercise, to learn how the director did what he did, to do it in real time, shot for shot, the way the director did (as opposed to limiting yourself to one or two homage shots in another movie).
And suppose you had a surprise critical, commercial and awards attention hit with another movie (Good Will Hunting in Van Sant’s case), and a studio was all over you, sucking up, asking “What would you like to do next? We’ll give you barrels of money to do it, just say the word!”
And suppose you’re a sly, subversive, doesn’t-really-give-a-fuck-about-Hollywood kind of guy and you think to yourself* “Damn, now’s my once-in-a-lifetime chance. The suits will go for a remake of Psycho because they’re a bunch of greedy fucks who would, and I can re-create it exactly the way Hitchcock did for my own amusement, pleasure and knowledge. If it’s a hit, fine. If it isn’t, so what? I’ll still be able to make movies. The suits will make their money back in foreign sales and video. The actors and craftspeople will have gained experience and a nice paycheck. AND I’LL HAVE HAD THE PLEASURE OF SEEING HOW HITCHCOCK MADE HIS MOVIE, Fan-fucking-tastic!”
Would you really, REALLY? turn down a chance like that? Really?? If so, you’re not as subversive and interesting as Gus Van Sant. I’ve never seen his version because I don’t care about it. I do however think the remake has one of the funniest, most interesting, most subversive backstories in film history.
*Disclaimer, obviously I’m not privy to Van Sant’s inner thoughts, but it’s my “re-creation” of what he might have thought.