The main idea here is skills demonstration in UE4 and have something fun to work on in free time. Freedom to distribute the work means more people can enjoy and see what you and anyone involved in this project can do.
Recreating a game does not mean copying it completely 100%. There’s plenty room to modify and add new ideas, like new game mechanics, new SCPs or even new gameplay modes like co-op, but that’s what time will tell.
Of course I completely agree that the original game is outstanding as it is and very nicely made. I’m not planning to make this because I think that original game is bad but because its so attractive idea (the SCPs) . Hey its always better to try making something similar to a small indie game rather than some others who are like Lets make the nextgen MMO RPS Call of battlefield:Crysis 3 
At the very first glance you can see the major features of the game most importantly the random room generation mechanism and the blinking. These are something very well suited to UE4’s blueprinting system. So its rather both like a test and learning exercise to implement them in UE4.