I wouldn't say it would be an embarrassment but Mad Max 2 is 34 years old now and I am sure George Miller as an artist/film maker doesn't want to be making the same thing he was 30+ years ago. He wants to try different things, and as we've seen from the previous Mad Max films, he doesn't like to do the same thing twice.How would making "Mad Max: Fury Road" similar to "Mad Max 2" be an embarrassment? The film is a masterpiece. So what if we're in a new generation. "Mad Max 2" still has the power it had back in '81.
Each of the Mad Max films are very unique to itself, always taking elements from the previous film but doing something very different with it, I am not sure why anyone expected anything less from Fury Road.