Didn’t it all start with “West Side Story” and it’s appropriation of Romeo and Juliet?
There's nothing wrong with someone taking the themes of a Shakespeare play and re-using them. West side Story is a brilliant example. Others I can think of include the western Jubal with Glenn Ford which is essentially based on Othello, and the western Broken Lance which is based a bit on King Lear. There are also the Kurosawa masterpieces like Throne of Blood (Macbeth) and Ran (King Lear again).
I do think it's kinda lame to set Romeo & Juliet in a modern gang setting like West Side Story. I also do not like gender-bending in Shakespeare, such as R & J as two lesbians (which has been done).