Could it be made as some type of mod package that users of Icon or Paragon Chat could simply download and stick in a folder inside one of those programs for it to work? If the answer is yes, then you wouldn't be taking away from an existing project, you'd be adding something to it as optional content. Users of Paragon Chat already enjoy other types of optional content via community mods.
And I'd much rather see something like that go in Paragon Chat, in case users ever wanted to install the mod and go on a history tour together.
And since you're open to suggestions, I'd love to see a version of the mod that only had official location and character histories, timelines, in-game news articles from the old website (Paragon Wiki still has copies) and maybe some developer commentary dug up from the internet; rather than have to enjoy all of that great official lore alongside a bunch of "My SG had so much fun farming here lol" community stuff. Not saying I wouldn't ever want to do the latter, just saying I like options.