I kind of see HC as CoH 2.
The HC Devs have upgraded the game a lot, from new Issues released and new powersets, to converting it from 32-bit to 64-bit.
They handle the Legal stuff dealing with the IP holder, the Servers, Security, Upkeep(from donations), all that jazz.
I am eternally grateful to the HC Devs for bringing something so beloved back to us all, something which had been thought lost forever is alive and kicking again.
As for an actual CoH 2, I doubt it. It's difficult putting lightning back into the bottle.