Skyblivion is a remake of Oblivion in the Skyrim engine, something that has been exciting RPG fans for a while it's finally coming soon.
More about it from the developers of the mod: "Skyblivion is the ultimate fan-made experience for the Elder Scrolls IV: Oblivion, bringing the game into the newer engine of the Elder Scrolls V: Skyrim Special Edition. This process combines Oblivion’s impressive award-winning open-world that is renowned for its incredible gameplay, memorable quests, and expansive world space with the advancements in gaming that have been made in the last two decades. Set in the Elder Scroll’s Third Era, during the cataclysmic Oblivion Crisis, you must help to restore the Imperial throne and repel the demonic Daedric invasion."
The developers put up a sixth development diary video going over the progress on August 3rd, the first update since the release of the official Oblivion Remastered. Clearly, this hasn't deterred them for pushing forward on Skyblivion. Answering the question on "what's the point of it now?", in the video they mention how Skyblivion is actually a "full-scale remake that re-imagines Oblivion from the ground up, bringing it in line with modern RPG standards".

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Features planned for it include:
- The entirety of the Elder Scrolls IV: Oblivion’s world space lovingly remade and updated for a new generation of gamers and long-time fans alike.
- Classic systems and features such as spell crafting, class and attributes, underwater combat, lockpicking, and NPC disposition implemented into the Elder Scrolls V: Skyrim Special Edition’s engine.
- Reimagined and improved cities, homes, caves, dungeons, and forts across Cyrodiil with new and improved layouts and encounters.
- Over 223 quests reintegrate for play throughout Cyrodiil.
- Every armor, weapon, interactable, and clutter item from Oblivion remade and updated true to Elder Scrolls lore.
- A collection of beautifully crafted assets and textures for use in the Creation Kit.
- 7 new region-specific pieces of soundtrack to complement Oblivion’s original soundtrack.
- New creatures and monsters implemented into Oblivion featuring lore-friendly additions from other Elder Scrolls entries.
- A highly detailed paper map in line with Oblivion’s original map screen paired with a new inventory visual system to match the original game’s aesthetic.
- A gorgeous collection of new loading screens, class cards, and attribute art to complement the game’s improved visuals throughout your gameplay.
So, uh, yeah. I'll be over here playing Skyblivion, definitely.