I get what you're saying from just a plain "I wish" perspective, but practically, it'll never happen. You've heard the saying about "Wish in one hand, **** in the other and see which fills up first"?
So in practice, what's the closest you could get to your wish?
You said you wanted to start over with the following criteria:
- Everything wiped
- Cap reduced back down to OG game
- New coded server - not sphagetti code. Code that has been optimized.
Bit version is not the same as a graphics engine. SSG has made no mention of doing any sort of major graphics overhaul or engine updates, so that's moot. 64-bit code should provide better memory optimization and performance but you're not concerned about reduced lag so bit-version would also be moot and can be crossed off the list.
That reduces your wishlist to: "everything wiped", and "cap reduced".
The closest you'll get to "everything wiped" outside of a Hardcore season is starting a new account and rolling a toon on a new server. You wouldn't have access to any of the "newer" quests, gear, etc. Not perfect, but that's as close as you could realistically get.
If you're VIP, the new server will be closer, but it will have all new stuff which moves the needle further away from the orginal version part of your wish. Maybe that's better for your scenario, maybe it's worse?
Regarding the "cap reduced" part, I'd guess it's HIGHLY unlikely SSG could unwind 15+ years of code additions to get the game back down to original base, even if they wanted to. There's a reason the devs released this item with it's snarky name -
https://ddowiki.com/page/Item:Rose_Colored_Goggles and associated effects.
The closest you could get to original code is, again, start a new account and roll a toon on a new server and play with some self-imposed leveling limitations.
So it might not be perfect, but my proposed solution is about as close as you'll get to it within your defined parameters, and you could indeed do that today.