Beyond Oasis/ Story of Thor sequel was planned for 32x

beyondoasis32x1Back in the SEGA Genesis/Mega Drive days, SEGA released a game called Beyond Oasis/The Story of Thor, according to the co-developer Ancient Games (also developed Streets of Rage series) there was a sequel planned on the SEGA 32X. They released the proposal document cover and character sketch proposals (seen below) that were shown to SEGA. It seems that the Beyond Oasis/ The Story of Thor sequel was canceled and moved to the SEGA Saturn.

What are your thoughts on the proposal sketches? Do you think a Beyond Oasis/ The Story of Thor sequel would have done well on the SEGA 32x or was moving to the SEGA Saturn a better idea?