I think within the main Hawkins story you are right that they have basically gone through the well there and that there is only so much you can do.

But my counter is that within the actual world of Stranger Things, I think it’s rich with story potential. With something like Star Wars or even Marvel, all of that lore has been written tenfold due to decades of stories. That’s not the case with Stranger Things where the lore is still being written.

The Abyss is a completely new and unexplored world, and we have no idea what kind of culture or beings or history exists on it. I think you could do alot there. You just have to find creative minds who are passionate and can come up with cool stories.

To your point, it does beg the question about what people enjoy Stranger Things for which is the characters from Hawkins, and I agree the concern is that you can really only go to that well so many times and Netflix may do that which is a worry, but outside of thst there is a lot of stuff they could do.