Snifferdog:
Why would anyone want to revive Freshaer specifically? Based on the Freshaer prospectus I saw, the project was ill-judged, inadequately researched, and thoroughly unconvincing: the wrong aircraft, the wrong routes, and a competitor assessment best described as pathetic. Freshaer belongs in the grave.
I'm not quite sure about your assertion that EI is "a shambles". Yes, a lot has been thrown overboard in terms of repositioning the product. Yes, there are question marks ahead (privatisation delays etc.) But from the cheap-seat-seeking passenger's point of view, the airline has done a great job of becoming relevant again and it's getting those bums on seats (and profits into the bank) better than ever before.
And finally: if a low-cost airline came into Dublin, to fly (for example) Hahn, Bergamo, etc., how long exactly do you think it would be before Ryanair found a temporary accommodation with the airport to enable them to kill off any possible competition? That's if MO'L and co. even needed to bother. Frankly a low-cost jet startup attempting to base itself in Dublin would need one hell of a business plan (and deep pockets) to ever get into the air.