It's now clear that Movie2K is coming back, though under a different domain. The site disappeared from the web a few days ago, for reasons which are still a mystery. But the site didn't go completely dark for long.
At one point, it started redirecting users to movie4k.to, which displayed a server error, but which proved that the owners of the site were still in control of the domain and that they were planning to bring it back.
The new site still isn't live yet, but movie4k now displays the "Please come back later for more news" message.
It's a clear indication that the plan is to revive Movie2K. As for why it hasn't happened yet, it may be because the data hasn't been transferred from the old host to the new one yet, or the site owners don't have access to that data anymore, so they're having to start from scratch.
Whatever the case, Movie2K fans can at least breathe easy knowing that the pirate site is coming back.
UPDATE: Movie4K is indeed the new home of Movie2K, the new site is live and running, though some movies may still be missing. Here, you can find out more about the new site and why the old one went down.