If Sony simply must continue the Men in Black franchise, rebooting it with Chris Hemsworth is not the worst idea I’ve heard. (The worst idea was combining MiB with the Jump Street franchise, but that, thankfully, seems to have been abandoned.) It sounds like the new plan is a soft reboot in the vein of Jurassic World, with a new cast carrying the story as Will Smith and Tommy Lee Jones are not expected to return. F. Gary Gray is on board to direct and the movie is already dated for May 2019 because rushing to meet a predetermined release date has never ever in the history of cinema backfired on anyone.
It’s good that Hemsworth is pursuing more comedies, because that is his natural milieu, but man, I just don’t care about Men in Black. I liked the first one because I was a kid when it came out and that was the height of Will Smith’s coolness. Also, the first MiB came out during the golden age of special effects, when digital effects were only just convincing, and still not so good you didn’t still have to deploy a fair amount of physical craft. The look of MiB was novel and it had Tommy Lee Jones leaning into his grumpy persona for humorous effect and Will Smith being the coolest guy on screen. Everyone liked that movie. 
But MiB now? When every movie looks amazing and every third one has aliens? Is Chris Hemsworth going to be enough of a hook to reinvigorate this franchise that has already been run into the ground? Maybe, but I’m not super interested. I’m more interested in Hemsworth’s current project, Bad Times at the El Royale, which reunites him with his Cabin in the Woods director, Drew Goddard. (In hindsight, Cabin in the Woods was a clear tip on Hemsworth’s comedy chops.) It’s about people stuck in a sh*tty motel in the 1960s and co-stars Dakota Johnson, Nick Offerman, Cynthia Erivo, and Jon Hamm. I’m way into that, and it’s dated for later this year, so we don’t even have to wait that long for it. Men in Black Redux, on the other hand, is definitely a wait and see.