If you are sure that you are ready to leave the project, you can do this, but first you should consider your users. They still find this useful; they contributed hours to write plugins.
So, your first imperative is to make sure that those who want to use what they find useful can still do it and still can improve it. Therefore, ask a volunteer to take on a project or group. Provide them with the source and your honest assessment of where the flaws are and what needs to be done to correct them (rewrite).
If you just close the project, you will make many people unhappy with those who are currently happy with you - that would be stupid. It is easy to make enemies without leaving your path to alienate people who otherwise will respect your decision.
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