I don't think so. I believe that Open-Tibia will continue to be in development for as long as Tibia is in development. Let's look at the facts, its been around for a decade now and many have come and gone, but yet still they keep coming and going. Not to mention, not all contributors are kids, and not everyone is about fun or learning, there is a real serious business side to all this as well...
So no, not last generation, not even close!