I agree with Theeper, by no means should a custom server be taken on by one individual. It takes an entire team to effectively build a custom server and even then it will take several months to make a public release.
With my recruitment letter for non-payed interns, I was able to recruit many database administrators that worked on their own private server, have experience with quest scripting and have great real life job experience. In other words, we have done just like you are sudjesting, combine our efforts into one project, one server.
However, just like any project, it requires a good scope. The entire project should be run by someone with project management experience, otherwise you risk the project failing. You can rely on one person that can effectively build the server, if one person leaves, you have to have someone that can take his spot.
Even with my team, I do plan to continue recruiting. I'll release another add up here on the forums in the future and some others elsewhere.
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