Small Soldiers had all of the tools to become a major franchise.
Not that churning out endless sequels and themed ice cream bars is the benchmark for quality in cinema, but the premise behind Small Soldiers had more than enough juice to at least spawn a sequel. Plus, if you were a child of the 90s, even if you didn't love the movie, the Small Soldiers action figures were easily some of the most badass toys around. That alone should have guaranteed a second flick.
Even though Small Soldiers has fallen into the deep recesses of the Walmart DVD bargain bin, the cool thing about the internet is that everything is someone's favorite thing, no matter how obscure. It was only a matter of time until a massive Small Soldiers fan grew up and decided to use their artistry to create a reboot of the film. In the video linked above, you can check out an awesome proof-of-concept for Small Soldiers: War for Nekron.