Firstly, there is the issue of which old edition should be emulated.
Secondly, redoing all the bug fixes that have been managed (ignoring all the ongoing unfixed bugs) without adding the new content between the choosen version(s) and present would be a tremendous amount of work.
Thirdly, even if the above (and with "good multiplayer support") existed, "bring[ing] in a better community which in return, would make multiplayer more enjoyable again" seems like wistful thinking. [MC has had it's Eternal September moment, from which it is no more likely to reciver than is the interwebby as a whole.]
Finding some good people to play with (as difficult as that can be) seems the simplest solutution.
[Most unwanted additions can be removed via mods or simply ignored by social covanent eg if we all agree to no redstone, it becomes simply another ore/block (although the ore can interact with gates and such).]
This is also a needed part of the proposed solution and can be implemented without reliance on MS/Mj.
Rollback Post to RevisionRollBack
WARNING: I have an extemely "grindy" playstyle; YMMV — if this doesn't seem fun to you, mine what you can from it & bin the rest.