My 1997 Saturn college-car, with a 5-speed manual got 40 mpg and sometimes higher if I kept it at 60 mph or less. That car weighed around 2,300# and only had 100 horsepower. It would also never pass modern crash test or tailpipe emissions standards.
The first car I purchased was a 2006 Corolla 5 speed bought used in 2009. Similar stats as your Saturn. But I still have the Corolla and won't get rid of it, because I know what the alternatives are - both positive and negative.
Personally I am more concerned with how long Toyota will continue to make OEM parts for this vehicle and my 100 series which are now multiple generations behind than I am with stringent regulations affecting modern vehicle reliability. Because as long as quality parts are available I don't need to put myself into the new car game.
For the folks buying new/modern vehicles and then immediately complain about them - what put you in this situation to buy in the first place? What vehicle did you have previously, and why did you have to get rid of it for a brand new one? Reflect on this and perhaps you find you could have made different decisions.