Now, for some deranged reason, lets say that Jeff decided to run with Mervyn's plan as stated: A brand new shard with Fel rules throughout, to include insurance.
Mervyn's squeegasm aside, there are real financial things to consider.
1) Server Hardware, hosting, et al.
Since people might actually expect the server to stay up a decent period of time, they would need to invest in another rack of whatever hardware runs a typical UO server. Let's say their hosting facility has blade servers... Say UO's equipment costs 5K a pop. So that's roughly 385 subscribers, just to pay for the hardware. Let's say that bandwidth, power, maintenance, etc, cost an additional 3K a month - so 230 people would have to make this shard their permanent home for EA to break even on the upkeep.
2) Dev Time
Bursting Mervyn's bubble here, but UO isn't a plug and play DB. Current working theory is that the servers are run as flat file DBs (which could be why things act funky). Changing things to be different from the stock shard code isn't as easy as it sounds. The devs would have to dip into the code and remove all references to Trammel, move Trammel only quest NPCs, change menus, move/create spawn points for mobs/items/etc. THEN they would have to actively maintain this new shard code (like they have done with Siege...whish hasn't been anywhere near perfect) to ensure that new content updates don't bork.
While we have no idea what anyone on the Dev Team makes annually, you can be assured it is around industry standard, i.e. expensive. Calculating the cost of the Dev time is impossible, but it will be significantly more than "10 mins."
Calvin once tossed out 7k subscribers as the required number for a new shard (meaning a classic shard at the time) to offset all these expenses and ensure that EA reaped a financial benefit. Without said benefit, EA would never greenlight such a project.
3) Getting people to play
This will be the most difficult for the reasons as stated numerous times before. Only a fractional minority of the playerbase is even interested in Fel, and most of those people would prefer if they could get everything they wanted in Tram. They don't play in Fel now, they sure as hell wouldn't flock to a new shard which literally revolved around it.