You're right, "final state" is a bit confusing. We are trying to recreate the game largely as it was at sunset, because the items, quest dialogues, spawns, etc... were all collected from the last 6 months. That doesn't mean we won't be making changes to how the game plays. For instance, I am fairly certain we will be slowing the levelling experience down to be more in line with early VG. I know we will be reverting some of the abilities that got changed from their original implementation (Necro death touch, Rogue hostage negotiations). And the emu will release with a level cap of 50. Anything beyond that will come in an expansion of sorts.
I can't speak intelligently about any content changes yet since I don't know exactly how that will shake out, but what I can say is that the people who are willing to build content into the emu are, by and large, proponents of early VG, who are opposed to the changes that Silius and Moorgard made to the game. I imagine we can expect to see a return to the group focus of VG's early days. Feel free to hop on over to the boards and join the discussions!
VG Emulator Boards