Decomp modding is the next unexplored frontier in SM64 modding. Kaze (the figurehead of the community) uses decomp ever since SM64 Splitscreen, and with brand new features being added by more technical users, there's a ton of cool mods being developed, such as:
There is a somewhat active community, including a model exporter for Blender (which exports Blender models to the format that Super Mario 64 uses). New maps, too.
https://mario64hacks.fandom.com/wiki/Kaze_Emanuar https://www.youtube.com/user/KazeBG0