Well... The control panel itself would be fairly easy to do. The big question is what it should be able to do?
You'd build the panel itself with a server side language and/or CGI. For each feature it would just require that you know how to use the system behind it. For example, for databases what commands you'd need to get a database set up and essentially build a web based UI for it. Same goes for email systems and so on.
User management would be one big issue. You'd have to keep track what users can and cannot do, what they have done and what are the limitations.
And finally, the system should be very secure, which would mean lot of testing and constant revising.
So although it could be easily split up in quite small tasks it would be quite a big project. But it helps a lot of you find ready usable parts for some tasks and embed them to the system.
Oh and no, I would not be interested in such project. Unless I would get paid of course

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