With minimal requirements only, Pentax will only sell to hard core Pentaxians who can live without fast AF, fast fps and all the other things that would make a Pentax FF competitive.Well, I agree with You, but "to be competitive" is another step above "minimal requirements". I'm not into marketing and economics etc, but I agree that some product CAN actually sell better IF it is competitive in specifications AND price than the product that is not so competitive but cheaper. Anyway, I would buy not-so-competitive Pentax product, fulfilling my minimal requirements, like I believe most of long-time Pentax shooters would do! That would be Pentax's strenght for selling new FF product. The problem could be new users, because Pentax is "out of fashion" for some time in Europe, so competitive or not so competitive product would not IMHO change sales that much. I vote for cheaper FF DSLR.
I believe this would result in a niche product (like the Pentax 645D or the Pentax Q), not a bad thing if you like paying the premium that comes with being in a niche (think of the Fujifilm X100, for instance). That means a Pentax FF could sell at around $3000, as much as the Sony A850/A900, Nikon D700 and Canon EOS 5DII, which would all offer something more than a Pentax FF.
However, to have a lower than $2000 selling price, you need to step out of the niche market and into the mass market. For this the camera needs to be competitive in order to make sales. Back to square one.
IMHO, a Pentax FF DSLR with only the minimum requirements would remain a niche product with a hefty price tag.
But I'm no market and economics specialist either. Maybe a Pentax FF could be cheap and could sell well. I don't know... I'm only a little photo business "know-it-all"!
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If photography can be considered like painting, then I'm still at the preschool "paint with your fingers" level.