If you could genetically engineer your pet, what would you change? Would you go as far as to create a new species to have as a pet?

The question comes this video specifically, since (although probably not in this generation) it could be possible to change a few traits that your beloved cat or dog has. Maybe even as far as getting a new pet for yourself.
If you could genetically engineer your pet, what would you change? Would you go as far as to create a new species to have as a pet?
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