No disagreement with Vin Diesel that one of his earliest and favorite characters to play was the Iron Giant from The Iron Giant. Still ... a sequel? What was there in the film that was going to catalyze a sequel?
Still, I admit I'd probably go see a sequel out of curiosity, just like I'm going to see The Incredible 2.
Not all sequels must automatically be construed as jaded cash grabs. Still ... one wonders ... .
Trivia--someone who worked on the cel side of things for that film was Lauren Faust, who would later go on to work on The Powerpuff Girls, and work with McCracken again on Foster's Home For Imaginary Friends and later helm a reboot of My Little Pony. I've respected Faust's work and collaborative activity enough that I watch MLP from time to time. Favorite is easily Luna.