You can quibble a few details I'm slightly misremembering, my bad, but regardless the spirit of my point remains...
Everquest isn't a solid IP anymore, it was buried by WoW. Any use of the Everquest IP would just hold them back in story and setting with little nostalgia gain.
Daybreak isn't a games studio and hasn't ever made a game, it's an MMO graveyard.
So what are we expecting here?
They have a relationship with MTG via their maintenance of the MTG Online graveyard. MTG is the best potential IP for an MMO imo - they should go for that.
Even then they should make a proof of concept game first, like a MTG ARPG or something, otherwise it's just more vapourware.