FF6 "Choose your own Adventure" style

^This. If it were within my power, I would pay you to do this project; it's a fun idea and could literally lead in many directions for so many of us who have our own fun ideas.

Personally, I think it'd be a great way for the members of this site to help collaborate on such an epic endeavor. I wouldn't want to overstep boundaries or anything -- it's YOUR pet project -- but as Zeemis said, the fact that everyone is willing to help you should convince you that the mere idea is awesome.

I can speak for all moderators and admins here when I say that we like it when new hackers come in and share their ideas. Past experience shows however that people lose interest and motivation to work on their hacks due to many reasons. Either people need to take care of their personal lives, or it is just that people give up when they realize that they need to learn ASM and spend an enormous amount of time in order to do what they visualize. Sometimes people are unwilling to learn, or even try to open the hex editor. Sometimes people disappear and we never hear of them again.

Madsiur proposed a community hack not too long ago, and I believe the project eventually died. (Correct me if I am mistaken).
Nonetheless, It is motivating to see capable people propose cool hack ideas such as this one