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I think Fakemon are cool, but I don't get the desire to create an ENTIRE fake region. If you have the programming skills to make a romhack, why not just make a monster catching game and charge like, $15 for it? You would get some money on the side for something you enjoyed doing in your spare time anyway.
The artists who make an entire fakedex and region and then just sit on it just seems baffling. I don't know how it can be creatively fulfilling to make a bunch of monsters and then not be able to use them in some way.