Your highlight was exactly in the vein I was thinking. Regardless of what exactly that guy produced, the system is in place for money to flow for a project like this.
Of course you also mention one of the tough issues. Whatever person or group tackles something like this will make decisions that will immediately be issues for large swaths of people. Textual basis, translation basis (if there is one), theological history of translator(s), production materials, translation theory, even individual word choices. All of that and more will factor into whether or not someone decides to back a project like that.
I’m ready and willing to throw my (meager amount of) money at a project like that, but it would hinge on a number of things, and therein lies the risk. There’s many snares that could pop up and frustrate the project from the beginning. It would take a person or a group whose passion for the project overcomes all the snags to see it through (a hard thing for such a huge project).