FPGA Arcade has already hit the market.
As for support, there's no absolute need for updates. But there is a need to make it possible to update. Any skilled in hardware logic with a powerful PC can create a updates on their own. That's why schematic etc.. is vital.
And I agree on FPGA Arcade being a A1200 replacement. Maybe it can work as a A3000 / A4000 too? (minus expansion ports)