No, the community does not need Ideaupdater to take the project. The code is there and it is open-source. We just need a new developer.
I don't think is so easy. If anybody knows exactly the process of taking over a project please describe.
Just don't see a possibility to do this without the developer but maybe I am wrong.
I think is obvious that we don't see Ideaupdater anymore so we can do something or just forget about Masternodecoin project