It's not just "a real thing", it's the entire point of the project (1999).
The goal of Project 1999 is to recreate classic EverQuest, and the Blue server is not classic. For instance, it spent seven years on Kunark, whereas live spent just one. Blue is that way for a reason: essentially it's the "beta test" server where the devs can test out their code in anticipation of someday using it on a truly classic server (ie. "Green", although the staff don't call it that).
But, as far as the "roadmap" goes, there's still the rest of Chardok 2.0, some smaller patches that came after it, and (most importantly) everything the devs have kicked down the road for the past ten years, but want to get fixed before they release Green.
No one but them knows how much time all that will take, but it's pretty safe to say that Green is still years away. Until then, maybe join ALS and/or just appreciate the very-close-to-classic Blue server we do have
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