I think it will come to nothing, like all other "collab" projects from the west.
/v/ has made a handful of games in the past.
Once the initial interest dies, it will die. I give it a few months before the last devs resigns to the inevitable fate.
So 4chan finally made a 2kki equivalent. I'll check it out for the novelty of it, though I doubt it's any good. Still, could e surprised, those screenshots aren't too shabby. I like that the PC is just Yotsuba too.
I'd say they made more than a handful.http://www.homph.com/steam/
Tho there are many more unfinished games.
Played a bit, so far I'm actually impressed. The world design and music is leagues beyond most fangames already, and this is still a beta.