There are plenty of valid answers here, but Jodorowsky's DUNE is the greatest movie never made.
And by "greatest" I mean, completely batshit insane. It probably would have been unwatchable and completely terrible. But oh what a glorious mess it would have been.
What's the movie that almost got made but never came together that you're bummed about?
Mine is the William Gains biopic Philip Seymour Hoffman was trying to get made