Phileas, you are definitely missing the point -which is that it is immaterial who/what could fly to a re-opened SZD as Peel will never sell on the basis it will harm DSA. This is why DSA is a material factor in SZD's future. If DSA did not exist or Peel did not own both then any SZD may be available for sale.
I can't spell it out any simpler. Hopefully you will understand this time.
I personally would not put any money into SZD, because it will be money wasted. The airport was not viable and will not be viable in the future.
You appear to agree with what I say, but then disagree about the exact same point, which is why I don't understand what your view is.