IMO, today you'd never get an FPGA which is big enough and fast enough and cheap enough to rival a real MC68060RC50 chip.
You'd either have to do an FPGA-Arcade philosophy (System on a chip, full system recreations) where in the long term you could charge much more.
Or wait 5-10 years for technology to catch up.
That doesn't mean that as a community you couldn't start now. Converting the specifications into HDL for logic synthesis. Working on the cache, MMU, FPU, branch prediction and super scalar architecture. Using the free tools to targeting some of today's FPGA's and see what target frequencies you can reach and area you would need in the future.
I mean you can already get fully open source HDL for 68000, 8088, 8051, 6502, 65816, Z80, ARM, MIPs and countless other CPU's.
But I thought that is what the NatAmi team SAID they were doing with their 68050 design?? I take it they never released anything? Not even design specifications?