You can release whatever you want under MIT :) It grants you the right to use the binary for commercial projects (or any type of projects you want), to modify the binary, distribute it yourself and more. You cannot hold Bellard/the license holder liable for anything related to it, and you must include the license and copyright if you distribute it.

Seems pretty doable to me :)

I guess you could decompile it and redistribute that source if you were dedicated enough

The goal here is to allow you to redistribute while maintaining the copyright notice.