If they can still use gopher, archie, veronica, jughead (single server search), text based ftp and the like they should be successful, otherwise it will be a monster endeavor as the memory accessibility is small, processor cache almost or completely nonexistent, video output (without massive work creating drivers if at all possible) is limited to cards built with the 8 bit interface. Al in all a daunting task that will require a lot of free time and/or a very generous and understanding boss.
I would like to see them do it.
They may be able to port an early Linux build also.