Hi Wabanog. So long as people donate and fund the server, the server persists. Donations keep coming in, so here we are. So yes, go ahead and start that project.
As for the long term? Minecraft's player count is in decline but it's still a pretty strong game. The game's peak player count is past, but I can see Minecraft going on for an almost undeserved long span of years. I don't have the heart to close the server so long as it is funded, so it remains open as long as all you kind people want it to, years if you like.