If you're receptive to brainstorming, how about this?
Ask the community if they would pay for a very MoM-like game (but updated) as a separate game and get the laid off developers to make it. If the community responds positively enough, it would be a way for the MoM fans to get what they want and the unfortunate developers to have some work while they look for other jobs. It would also be a way to leverage all the engine work done and shouldn't be that expensive to develop.
You'd need the multiple races and flying creatures, and some of the tech trees would kind of disappear as when you take a city you would get their units to build, but so much of what you'd need is already there....I for one would pre-pay another $60 to get it. Don't care if you call it modding or development, it's something I want.