Remember that GM had no real choice when dissolving Sky and Pontiac.
That is hard to understand.
There is a working assembly plant, tooled up, people and processes in-place. I wonder if everything Kappa including engineering & supply chain, could have been purchased in-whole.
Cost of operation is another matter. Back in the day when Saturn was birthed, Saturns were built in Spring Hill TN where labor was cheap and unions didn't have a grip. No doubt everything was available at fire sale prices including that TN plant. It's too bad someone with deep pockets didn't have "vision" to see the Kappa and other orphans as an opportunity. The Miata was unchanged for so many years. Just minor cosmetic updating could have been done at opportune times as tools, stamps, and molds wore out, would have kept it alive, and maybe well profitable. Certainly initial investment was extremely cheap. Common parts with GM, just maybe it would have made for a sweet partnership.