The future

[chipsnapper]

It has been nearly five years since HL2EM development was officially halted.

The Facepunch Forums have closed, erasing most records of the work that was ever completed for this project. Archival efforts were successful, but they captured the thread in a converted state, so it was missing things like images and ratings.

Some Source mods have included features this project intended to include, such as MMOD including extra weapons and HEV voicelines from HL1. Over the years many of the retail HL2 assets in source file form have been leaked, including some models and all campaign maps, even those from the Episodes.
The future of Source Engine is uncertain; Valve maintains Counter-Strike Global Offensive but support for everything else is either minimal or nonexistent. Even TF2 seems to be on hold these days.

The community has largely left, many forums and fansites have fallen by the wayside. Interlopers, ValveTime, LambdaGeneration and PlanetPhillip are all abandoned. Any surviving groups have moved to Discord or Knockout.

It seems that hope for Half-Life has been lost. Just in time for Valve to announce a new game in the series.

Half-Life Alyx and the release of tools for Source 2 in some form mean that there is a -small- chance that a project like this one might have some real meaning to it. Is there a hope to make a Half-Life 2 remake on Source 2, largely in the vein that Black Mesa remade Half-Life 1?

[Glitchvid]

MMod does a lot of the right things, for what it doesn't do regarding new models, textures, etc – it excels at the others, like effects, and that enigmatic Game Feel; honestly I doubt we (HL2EM Devs) would have ever spent time getting the feel where they did. 
HL2:EM was all about screenshots, and lots and lots of arguments about the name of the mod.

Really what killed HL2:EM was pretty multi-faceted, probably the same rot that kills most ambitious mods; that being a lack of talent willing to stick it out, scope creep, and disorder.  It being developed inside a dropbox account for the first part of its life probably didn't help either.

Half-Life 2 : MMod, which ironically enough was at one point "Half-Life 2 : Episode 2 - Enhanced"; Actually it was misspelled "Enhased Mod", though they got the last laugh, having released something!

If Source 2 actually ends up being a thing, then I'd certainly be willing to work on a Half-Life 2² project, but I can't say the same for anybody else that was on the team.  It'd be a massive undertaking, but assuming the talent was there, then I think there's at least a chance that the scope and direction could be pinned down, resulting in at least something getting done.