You get the game code and assets (https://bitbucket.org/ryzom/), but not the actual world data which makes up atys and its npcs and quests. Setting up your own shard and client is also possible, but not very well documented. Khaganat for example is a project which tries to build something new based on ryzom, maybe this could be interesting for you. (http://khaganat.net/)
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