Well, the powers that be seem to have taken notice of his fandom: „Sources tell Variety that Villeneuve is in early talks to direct Legendary’s “Dune” reboot for the company. Legendary has not commented on the news” (Full article here: http://variety.com/2016/film/news/denis-villeneuve-dune-reboot-legendary-pictures-1201929280/
I have not seen Arrival yet, but I did see Prisoners and Sicario, and this here is a really talented director, and still on the rise, mind you. His movies so far, IMHO, show he can deliver great storytelling, great atmosphere, and he surrounds himself with top notch talent.
So, yeah, Involvement of the HLP aside, I would be really excited if Villeneuve were to helm a new Dune film.
Like I said before, I never repeat myself.