So ages ago I actually did work on the MT dump. I went through it and fixed all its debug warning errors, made the tables modular, fixed any mission stuff that threw warnings and the like. There were lots of model issues; for instance the Warhammer destroyer had no fire points defined for half her weapons.
Here are some of the pros and cons of the dump. based on what I can recall from working on this a few years back:
Many of the new Earth models still look interesting. They do need shine/normal maps, and they do need reconversion to fix smoothing issues. One could make a nice black ops fleet out of these ships for use in other campaigns. The GTVA Raptor fighter also looks very nice even at this date.
There are many missions in some working state that could be developed into a coherent release.
I suspect the missions were developed with a different weapons.tbl than what was released. For example, the new Earth destroyer has 8 electrobeams. Each beam is roughly as powerful as an LRed. The mission in which you first encounter one there are two GTVA destroyers present. They are supposed to fight for a while and then have a conversation. Unfortunately the Earth destroyers beams are so super powerful they just melt the GTVA ships in seconds. I doubt the mission designer developed the mission with those beams in place.
The dump did not include a plot/mission design document and there really isn't a whole lot of plot in the missions as they stand. I suppose the creators intended to get the gameplay in place first and then go back and add the plot stuff later. For instance, many of the missions have just a sentence or two briefing/debriefing, and then only generic dialog such as "Ship XYZ destroyed". Some missions even have just something like "insert message text here" as dialogue.
Just from looking at the missions alone, I don't think the plot is understandable, really. Why is the campaign even called Machina Terra? What is "The Machine"? The missions tell us nothing at all about Terra except that they are essentially the GTA with cool new spaceships. Why is the GTVI evil again? What is the significance of the intro cutscene showing an Earth fighter drifting around and being picked up by a Shivan vessel? No idea -- it is never referenced by any mission. In the absence of a clear design document, or one of the original story writers returning, I don't know that much can be made out of the campaign beyond "blast the bad guys."