The 1918 virus is already "out of the bottle." It wasn't recreated, it was found in in bodies in permafrost. And there is no reason on earth why it, or something like it, couldn't come back. And if it does, and we haven't done any research on it, what does the Sunshine Project propose to tell the survivors?
From the other articles I read today, it sounds like it isn't the 'stock' 1918 virus that is the problem, rather it's the components they have identified in the original 1918 genome that made it nasty that are now spliced into another virus.
(I don't know who these Sunshine people are, but the article was interesting.)