This has been going on for years already. RunUO.
And yet utterly devoid of entertainment value.
There's an extremely high barrier to entry for new players. Which client do you install? Which of the 3 or 4 third party assist tools do you need? Where do you download all that?
Even once you get the game client up and running, you end up with choice paralysis trying to find out what server to play.
Picking a server involves shitloads of googling and visiting each of their random websites while they explain mostly in game jargon terms which settings they have, or what "era" of the game they adhere to, without really explaining what that means.
And then there's the PVP, which is a joke on every server I've ever played. No diversity. No balance. One or two templates is all anyone ever plays.
And don't forget the ganks, because PVP is dominated solely by large, organized guilds everywhere. Want to duel? Good luck. Some servers have dueling systems, but they're ghost towns.
The most popular servers all seem to have declining player populations, which isn't surprising. Any community this hostile to newcomers deserves to wither.
So yeah, I welcome the UO devs one-upping existing player run UO shards with something new. Someone needs to do it right.