Although of course it strives to maintain the original Gunz gameplay, it isn't simply akin to a private server. The developers have really been remaking the entire game from scratch, and intend to make it more fit for modern gaming, including ELO matchmaking, updated graphics and music, as well as changes to gameplay to create more depth.

Here are some animations from their early builds to now.

Dashes and Rolls
Air Attack in Dash Cancel
Best Move
Butterfly

If you'd like, you can see their progress here from the very start, as they've been documenting the development process on /r/Gunz on Reddit.

https://www.reddit.com/r/gunz/commen...dez_announced/

These guys really are just making this because they love Gunz and want to bring it back even better than it was. You definitely don't have to make a donation, but if you like the idea and would take the time to share it, even that would be a big help for them.