Katanagatari was on my list since Don's effective advocacy, and I came to think of it as a complete story. Now a preview chart (via) slates a sequel. Instinctively, I bump it down a few notches, because look: do Azumanga or Haibane Renmei even need sequels?
This is not to say that the new series is going to suck, objectively speaking. Look at J2, that one didn't despite the difficulties of retconning. The question is in the value of the original. Again, it's probably not at the objective level "sucks". All sorts of good series were extended in questionable ways. Just watch the original is the recipy for them. But empirically, truly great series are never extended.
Again, there's no law of physics why that is saw. Katanagatari may be the first to break the mold. But the odds are overwhelmingly against it and the probable thing to suspect is that it never was as good as Don claimed.
UPDATE: Reader Citrus e-mails:
The Katanagatari in the preview chart is a rebroadcast, not a sequel.
What a relief!