[cando]

You can argue that something being a flop originally isn't a reason not to try it again. The original (celebrity) Love Island was a notorious bomb after all, and look at the format now.

They share a name and that's about it. They're completely different shows imo.

The format was completely different. The original was closer to I'm a Celebrity than present Love Island. I'm pretty sure it was the exact same team on both.
Patrick kielty and Kelly Brook/Fearne Cotton presented it in the same manner as Ant & Dec do I'm a Celebrity.
There was no coupling off, no shared beds, they all competed as Individuals, the public voted them off one by one, there was no casa amor and there were on an actual Island and not a villa.