Despite this, the creators of the remake chose to release a trailer along a number of concept art to show off the work they've done. In the trailer, narrated by Solid Snake (voiced by David Hayter), we see some of the areas of Outer Heaven rendered in full 3D, and many of the game's signature moments shown off in animated cutscenes, a la Peace Walker and Portable Ops.
While Konami's reasoning behind its shift is unknown, it's likely that the company wants to keep a tight grasp on all things Metal Gear with the on-going development of MGSV. Though, it would've been interesting to see how this project could've panned out. Good or bad, it's always exciting to see what fans with a lot of talent can create.
Metal Gear fan remake shut down, but here’s a trailer featuring David Hayter [Metal Gear Informer]