Maybe if someone was trying to use the Halo1 engine to do another game. But today's Halo engine is so much, much more. Eg, their networking code layer isn't specific to the needs of Halo (as described here).
The engine isn't like the UDK, because the UDK is meant to be licensed to other developers for all sorts of games. That's what drives most of its design. So no duh the code in a Halo-derived work would have to be reworked, but not to the extent you're trying to suggest.
Also, just because you can script something using UnrealShit, doesn't mean it should be entirely implemented in such.
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