Highly unlikely, Englund has said that he's too old to play the character anymore. Now they could have him just do voiceover work for the character I'm sure that could still be possible. But definitely nothing physical the dude's in his 70s by now I don't think he's as energetic or lively as he was back in the 80s.

The parents burned Freddy because he'd slipped through the justice system on a legal technicality and they wanted him to pay for his crimes. He was a serial child murderer that the justice system failed to put away, so the neighborhood parents formed a lynch mob and killed him.