After the Alpha was canceled, the local shop gave up on VMS, ported everything to Linux and IBM AIX, and moved on. Seems like a wise move.
VMS has been dying for decades. I suspect any serious business has ported their app to another platform.
I know a lot of people in the OpenVMS hobbyist community were dead set against people doing that, and I do understand why – one of the big reasons was they were worried that it might give the hobbyist community a bad name inside DEC/Compaq/HP(E), which in turn might lead to the hobbyist program being discontinued.
But, when it comes to OpenVMS on VAX – there is no alternative, I really doubt anyone who currently works for HPE cares one iota, and I'm not sure why VSI should be upset about it either? So maybe that former logic is no longer applicable.
Different story for Alpha and Itanium (and soon to be x86), for which there is a hobbyist program run by VSI, and the same concern (that hobbyists hacking license restrictions might upset the vendor to the point that they cancel the hobbyist program) applies to VSI as well.
(I suppose one possible reason VSI might get upset with breaking licensing restrictions on VAX, is that any technical workaround for VAX licensing might also work on newer platforms – but I don't know if that is actually true, and even if it were, VSI could easily make it false by moving to an incompatible licensing system for their OpenVMS releases.)
There are probably free Alpha emulators by now, but the VAX version has been running on PCs for a long, long time, and it's what people know.
Maybe Cutler would have stayed in that early fait-accomplis. They also never would have spent the money on Alpha, or wasted time selling MIPS workstations.
(I own both VAX and Alpha hardware and run VMS on both)
Lucky you!
Putting that aside, I think a VAX release is also technically much more challenging than Alpha/Itanium was. From what I've heard, the VAX release used different (older) build tools, etc, and even if HPE or VSI still has the source, it would be quite an effort to work out even how to compile it all. By contrast, HPE was still building new Alpha/Itanium versions internally at the time it started to transition to VSI, so it was just transitioning a currently active process to another organisation, as opposed to resurrecting something which hadn't been actively done in many years.