While I think you're joking, it makes sense.
Regional market penetration (DEN, MKE, FLL)
Similar aircraft (A320s at F9 and Spirit)
All relatively weak financially - cheap for the price.

While not JetBlue or Alaska - it would make a nation wide low cost (low wage) carrier with coast to coast coverage and potential regional feed through Republic.

Can they take on SWA?
Well SWA has lost several quarters in a row, asked for retirements, and has yet to sign a pilot contract.

Or - they could just chop up the pieces and sell off the assets like Larry the Liquidator (aka: Other People's Money).

What do I know, I'm just a pilot.