Has anyone thought of just making a mod which resembles Arcanum 2? It's probably the closest we can get :/
Many people have, until they come to realise the workload required to create a huge epic adventure, yet alone a small dungeon romp.
If you really want Arcanum 2, do it yourself. Read up on AMTUT, learn how to script, code and design. Then you spend a few months or years creating Journey to the Centre of Arcanum and live happily ever after. Don't think it will happen on it's own.
Actually, he's probably more likely to succeed on his own. Teams have a sad habit of dissolving once the initial hype has waned and people realise the amount of work they have to put in.
They don't even have to realise the amount of work they'd have to put in, they could just do it like I do it, and not put in that amount of work. See, that way they can keep thinking that they could make something some day, while never getting anything done.