My original question was about the project overall, because it does indeed support a large amount of modern phones. I was just so surprised they were shutting the project down completely. When I first read it, I assumed it meant this was the last release for the 4.4.2 kitkat series.
However this being open source, others could fork it and I expect they will, but perhaps not for the S3.
I still love my "old" S3, and my boss even told me to get the S5 whenever I wanted it. I am completely happy with this S3, and really dont want to give it up and start all over again. I wont even think about ND8, as I do not want KNOX, and that is part of my reasoning for not wanting the S5.