We'll have to see how this goes, assuming it even happens. I do know that Patreon cracked down on his page recently, and I had speculated then that he'd be putting out an update to save his page. But on the other hand, this is Rainces. We can only believe a new update is actually coming out when we are actually playing it.
The redoing the game also concerns me a little. I had hoped for a continuation of where we left off. I suspect this is prompted by Patreon's rules on content, as Rainces does refer to it in their post. They need to redo the game to completely purge incest or maybe even younger looking characters from it.
I'm also worried about the entire incest thing being changed to the user being able to define the relationships. That usually just leads to a watered-down incest experience where they occasionally reference whatever relationship the user has defined, but it's not a key part of the story any more. If Anna is now a landlady that we can program to be called "mom" and Lucy is a roommate that we can program to be called "sister" occasionally, that's going to take a lot of what made BBS fun in the first place. I'd much rather see a patch that entirely changes the dialogue to make it a true incest story.
So we may or may not see this update. If we see it, it may be something that looks like the original BBS, but doesn't really feel like it, just like a game like Glamour looks a lot like Big Brother, but doesn't quite capture the feeling of the original. The dev there basically did a complete restart and changed things to user-defined relationships, and at least for me, it resulted in a less interesting game.
I do hope for the best though, and wish Rainces the best of luck if they are truly back, and hopefully committed to producing updates on a regular basis.