You can't touch EQ without a deal with Sony. The EMU's exist because Sony doesn't seem to care much about classic EQ, but technically they could force them to all shut down if they wanted to. So there's no way to Kickstart this.
Also, to make a complete new game from the ground up which is pretty much a thinly disguised copy of EQ firstly wouldn't work I don't think, is a massive undertaking because you have to regenerate all the code underlying the game, but also risks litigation anyway.
The only real way is to get the licence from Sony, and with EQN coming out I doubt they will be interested in touching it (splits the player base). But.... you never know
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