This sounds fascinating! But I've had my hopes up for so many other "in development" projects in the past. (RIP the Patrick McHale interpretation of Redwall)
Oh, the Wachowskis aren't actually good at writing... The Matrix is "strongly inspired" in themes and storyline (often shot for shot) by Dark City... They haven't written anything all that good outside of that.
They are hit-and-miss, but the original Matrix, V for Vendetta, Sense8, Cloud Atlas and Bound are actually good. Assassins, their first filmed script, is also not bad in a 90s action movie way.