I find it to be the case that predictions of demise (often) become a self-fulfilling prophecy - the more often more people repeat it, the less confidence those who are interested in it will have to continue.
When this is a free project, that actually aims to genuinely rebalance and rethink all aspects of WHFB (whilst still retaining the basic mechanics/appeal of the original game), it is doubly sad that people seem in a rush to draw lines in the sand and proclaim the project's demise.
I mean, it is a free ruleset, that you don't have to join in with if you don't want to, and that lets you play with your existing model collection in the way that you apparently liked (but maybe sometimes wished was better balanced/fairer). The rules tweaks and army changes also let you field those models that have sat on your shelf for too long, or that might encourage you to build some spare models with that pile of leftover weapons that were not super-efficient in the last edition. The final army lists will even have themed subfactions to provide more game variety to your existing model collection.
So why be so quick to dump all over it?
Lack of official support? Lack of tournaments? Lack of the exact GW models to buy from GW? Of all the places on the internet, I have seen many truly remarkable efforts here on LAF which prove that if people want to do it, and have fun doing it, then it should (and can) be done.