It's not a remake.
Would not really call it a 're imagining' either.
It takes place in a completely different city, has a different character, no relation to the original story and takes place in the present day.
The only real connection is the central character being somewhat unhinged, reliant on drugs and abusing his authority...and the title.
That said, I thoroughly enjoyed it...it's edgy, compelling stuff. Cage is phenomenal in the title role, the sort of role he was born to play. It dispenses with the religious allegoey and angst of the original, but it creates it's own universe that is often just as weird, provocative and just plain out-there as the original.