Yeah it's a damn shame this isn't in development anymore. Don't get me wrong I totally did absolutely enjoy the fantasy side of the game, but I found the game, and formed an interest in the game, because of the IRL side of the game. I'm a sucker for feminization, and themes of MtF characters blooming with a bit of outside help, (not to be confused for sissies) and this definitely seemed to be ticking those boxes.
So if the author would be okay with it, and someone would be interested in actually doing it, it would be cool to see the IRL side of things turn into a game of its own. The VR aspect is obviously important to the story, so a replacement for the original fantasy content would have to be found, as to respect the part of the story that the author themselves want to continue working on, but besides from that I can't see why someone couldn't pick up the IRL aspects and work with what's already there.