When SNK-P released KOF XII, the intention was a reboot, actually. Hence the classic uniforms, team lineup and the classic 3 on 3 team style.
Somehow they kept the story going on in XIII, but it's fine. I don't think KOF needs a reboot. Already too many fucken series had it.
Agreed. Besides since KOF95 characters no longer age, for the most part, in the KOF universe, and each Saga is its own self contained story with new lead characters using the previous story arcs and characters for backstory. A reboot wouldn't really do much, other than needlessly erasing/changing backstories, and in the end it would just be redundant and possibly piss long time fans off if done poorly.
However a reboot for Fatal Fury and SamSho wouldn't be so bad whenever/if those franchises return, for best possible roster reasons. Fatal Fury especially since it has been gone so long and might be a hard sell for anyone that isn't a existing fan. KOF is fine since we just finished a Saga, so next story one should be more fresh.