The short answer is no.
The long answer is that there are multiple reasons for this.
First of all, I can't justify committing nearly as much time for mod development as I did back in the day. And even if I wanted to, it looks like I'll have much less time to do so in the future. I put thousands of hours into the development of Galactic Armory, and I couldn't even tell you how many hours everyone else on the team worked on it.
Speaking of the rest of the team: What was left of the team when we stopped working on the mod (and the core team was never more than 5 people or so) is pretty much scattered to the four winds now. If someone wanted to continue development, it would probably have to be an entirely new team of people, and most of our development and planning documents don't exist anymore (at least not to my knowledge), so they couldn't build upon that. And maybe it's just me, but I personally wouldn't want to see this mod taken in a new direction unless it was the one we had planned for 2.0.
Oh, and I also lost a bunch of resources I used for the development of the mod a long time ago. Of course I thought to back up everything else except those files...! It's not a dealbreaker, but certainly doesn't help to motivate.
And then there's also Star Ruler 2. While I felt the first game had lots of untapped potential, quite a bit of that was unlocked through the work of the modding community, and I feel there is so much more that could be done with the second game. I can't speak for anyone else, but if I personally decided to continue modding, it would be for SR2.
Believe me, not a day goes by that I don't wish things were different... But that's the way they are right now. (I could end this on the note of "maybe
I'm gonna start working on a new mod some day", and I would really like to do that, but I don't want to get anyones hopes up.)