The fact that Toyota has released the FJ70 into Japan indicates that they think there is a market for urban/suburban drivers there. Should be interesting to follow the sales results. And sales results for INEOS will also bring clarity as to the actual demand for a FJ70 or FJ70 like vehicle. INEOS has been able to design a 4x4 that meets US standards from the getgo and that is an advantage over Toyota. But if the Grenadier sells and is well received, it would bolster an argument for a US FJ70 (or something very much like it.)
The INEOS was designed in the 2020s to meet current regulations. The 70 Series was designed in the 1970s. Could Toyota redesign the 70 to meet current regulations? Yes, but it would take a complete redesign and Toyota hasn’t done a complete redesign of the 70 since it started building them in the late ‘70s.
We won’t get a 70 Series in the US. Not going to happen.
The INEOS is going to be a niche vehicle. We will see how they do. I suspect that like most new auto manufacturers that they will have a very tough time building reliable vehicles and remaining solvent. It would not surprise me at all if after 5 years the billionaire owner gets tired of it all and they go bust. Time will tell.