Isn't it a bit naive to declare that, just because Lua created a new minor version, it should be somehow better? The author of LuaJIT has often written his arguments, including why he disagrees with the changes to the language, why they should have been implemented as libraries instead, that in his view LuaJIT is still more performant and more widely used than PUC Lua, and more.

As for forking, you can try, but I would warn you that one does not simply fork LuaJIT. Required is deep expertise in tracing JIT compilers, in assembly and in many different computer architectures. Nobody was really up to the task when Mike Pall announced that he was searching for a maintainer, before his eventual return.