You could do that, yes! Anything you make with PQ93 is yours! :) And with the projectors, you can ship your game to people in a stand-alone way. I would love a link to any cool stuff you make, though of course you aren't obligated to send me one! :)
I'll try to remember if I manage to finish anything, making a game for the bundle all made using the assets in the bundle should be a fun little project. And it being a full circle is kinda neat.
