When ESCom took over C= they had the same plan to make c64 hardware, but failed, who want to pay truckload of money for a "new" c64 when you can get a used cheap.
Remember TULIP don't own the right to the games, it belongs to the company who made them, and most of them are dead. So it would still be possible to download old C64 games, no matter what TULIP might say, they would not win any lawsuit.
The only way to sell new C64 games would be to port them to mobilphones, or the GBA.
The project will never succed, it will kill the TULIP company, but who cares, another stupid pc-company death..