Since everyone is arguing, I'd add my humble opinion. First of all I have nothing about Shadowhand, however I wouldn't have done the same myself. When I started messing with ReiNand's source (I only re-added sysNAND, and then also added O3DS support + reboot patch from cakes) I asked if people were interested in the RN thread and, since they said they were, I posted the builds without even making a separate one (since the changes were so minor). At that point, if Rei wanted he could have merged my changes. Then, I was asked to start my own thread/project, so I did. Originally I only called it "Reinand mod" because I didn't think it deserved a new name, then when the projects really diverged I added a prefix but kept the original name out of respect for the original author.
So, tl_dr: while it's great to tinker with stuff and understand how everything works, remove stuff etc., I wouldn't make a thread out of it and add my name after removing a few things from a different project, especially if those things are completely optional (as it is, ARN becomes "sysnand only" if there's no emunand, and the chainloader is fully disabled if there's no default payload).
But that's just me, I suppose others can see things differently.
THIS! This is how the open source world works. Sure, there are a million useless Debian/Ubuntu forks, but with most of them the thing I warned about happens: They are not maintained, they disappear, noob users are mad because they can't fathom they made the wrong choice with their software.
It's completely fine and legal for anyone to fork GPL'ed code until they're sore, but if the most significant change is the name, nobody wins. I completely agree with @Aurora Wright that you don't publish a fork until there's been a real achievement and the original project won't merge it or it doesn't make sense because it took another direction.
We'll see what this will become, but right now its not much more than a name change.










