New game using EverQuest's engine?

[NachtMystium]

Is this feasible to create a new project using the game's engine? Is it behind some kind of IP wall? I think it would be badass to just make your own skins and your own mmo project but with re-skinned character models etc etc.

I know there are emu servers that have custom content etc. but I'm talking about building a new game from the ground up using the engine provided.

Anyone have any thoughts on this?