The issue is more finely balanced that many credit. All it takes is one hull loss or worse a fatality for the situation to get to a head. Maybe not as far as the revoking of category I status, but there would be consequences.
Many in Saudia city are probably holding their breath hoping the new fleet arrive (and the fly-by-nights asked to leave) before any catastrophe happens.
Retiring the A300s before their replacement was sought was a big mistake. However, the situation at the second hand market is becoming more favourable for SV. If they act, they can pick up some quick interim lift. How about China Southern's 772s?