[RobA_Oz]

What would make a film SLR appealing? Pentax is not Leica, a monochrome K3 works, but a film based K3 would be weird and expensive for newbies. Supporting KAF4 would require DFA* quality. Just A mode or manual is not really enough, there are many LX, MX, … cameras out there, still in good condition.
So I would not put my money on an interchangeable lens camera.
Old gear sells nicely for 1-200. Prepare a nice new film package for 3-500 and you have a market.

Presumably, that’s why they plan to start with a compact or two, to provide a cheap(ish) entry point for new customers to try their hand. More experienced film shooters may well appreciate a well-made 35mm compact, as well.

Pentax may not be Leica, but the major difference is that they appeal to different disposable income groups. You can talk all you like about the different tactile experiences and the quality of build etc, but if you don't have suitable quantities of spare money you don’t get to play with Leica (I’ve got one, but it’s 70 years old and I was earning good money when I bought it).

As with vinyl audio, there’s plenty of good used gear available at good prices, but the vendors still sell new turntables to suit all pockets. Audio isn’t photography, but there are plenty of similarities when it comes to users.