Yup. Well, the big screen adaptation at least.
What could have been, indeed. That reminds me: you guys do know that the game was originally built around Jean-Claude Van Damme, right?
That's who Johnny Cage was modeled after, hence the split punch to the groin move, as seen in Van Damme's all-time classic Bloodsport. As noted, the entire game was meant to feature the Muscles from Brussels, front and center, who ultimately had to bail due to commitments to another company. For a game that never even got made!
The loss of their star meant the game's creators had to go back to the drawing boards. Who knows what the original version of Mortal Kombat was supposed to be, if Van Damme was supposed to face off against Shao Kahn in Outworld of if all that stuff came later. But rumor has it that this brush with video game immortality was the reason why he lobbied so hard for the role of Guile in the live action Street Fighter flick, and would even be digitized for a game at last, for the one based on the movie. Both of which totally blew! Oh well.
Again, what could have been. And on a semi-related note, Steven Seagal was also set to star in a game called The Final Option for the SNES and Genesis. But it never came out, and from the looks of the almost finished rom that someone actually took the time to film himself playing, it was perhaps for the best.