Why would you even revive an 11 year old project when nobody cared for all this time?
Either 1) it's fine and there is no need to recompile it or 2) your changes are pretty meaningless so you might as well don't do them or 3) you want to perform impactful changes so you're running into the issue with newer devkitPro versions
Each popular project should gradually be updated to compile on the latest devkitPro. If this doesn't happen, apparently it's not that important and if you really want to bring it back anyway just invest a few hours to get it up-to-date with newer compiler standards. Clearly some poor code was written so it's about time to fix that as well.
Why would you revive an old project? To translate it. To modify it to suit your needs. To correct a bug. To fix a typo. The list goes on and on. Also your implication is that all well written code from say 2007 should compile in modern toolchains without modification. That's not only untrue but a flat out lie. Some people also just prefer to compile from scratch as opposed to using rebuilt binaries (and with some projects rebuilt binaries aren't a thing through official channels).