Well if EA has zero interest in it, I don't see why he's wasting time. He can easily create a new IP that's a *wink wink* hommage to Ultima but would be a new series entirely. It could have all new original characters like Lord English and Lord Whitethorne, et al. I'm sure if it had the same scope and quality of the previous games people would buy them no problem.
"During times of universal deceit telling the truth is a revolutionary act."