Previous attempts has been made, the sources are available, but noone is working on it afaik.
other mmos like swtor and tera went f2p, so making emu for those would be pointless
![Smile :)](./images/smilies/icon_e_smile.gif)
however rift is still a popular game
creating a forum for it should attract developers/users to back up the project by cooperating
would you give it a chance?