Remaking an old game in a new engine is a venerable and usually doomed mainstay of the modding scene. Always has been, always will be.
They either stay 'in development' forever, get cease-and-desisted, or shrivel up in their incubators. It's the natural order of things.
Unless, apparently, they're Skyblivion, the remake of The Elder Scrolls 4: Oblivion in the Skyrim: Special Edition engine. In the making since 2012, Skyblivion just put out a live demo and Q&A video showing off some of the work the devs have been up to, and clarifying that, yup, it's still on track for a release this year. «Every second message in chat is: 'When is release?'» said Skyblivion mechanics lead Scott Whiting. «We'll tell you as soon as we know.
It's a volunteer project; it's hard to pin down an exact release date, but we are confident we can get it out this year. It's coming along so incredibly.» He's not wrong.
In the parts of Skyblivion that Whiting and Rebelzize—the mod's project lead—showed off in the video, it really does look stunning.