Nope. Not enough scale to build a gigafactory. Tesla is building a natural monopoly way more expensive than the supercharging network.
Some of the other have said no, simply because of the charging network but forget Tesla is supposedly open to partnering with others. Now, that said, nobody wants a $18k Corolla for $40-50k, not even a Camry. Much, much larger market if you get that price to say $20-30k. If the range was 200+ miles and had that kind of acceleration then they'd sell like hot cakes. Styling is probably going to be super important too. When you say no frills though, it'd still need all the safety features required of a modern car (AEB, backup camera, ultrasonics, etc.). The battery would need to be super reliable. Can't go around exploding or catching fire at random like cheaply manufactured li-ions like they did in those "hoverboards" and cell phones. It'll give EVs a bad name.
There's no way a sub 3 second accelerating Corolla would go for $20k. I mean the P100D is literally the same car with less range and better acceleration by 2 seconds for $33k more. A Corolla does zero to sixty in about... 9 seconds. The target demo would essentially be luxury brand car drivers who want to give up comfort for speed. Or perhaps muscle car drivers that want to give EVs a try and boost their acceleration at the same time. A Mustang Shelby will get you 4.2 sec 0-60 for $60k or so an M3 gets you 3.9 secs for a little more. For those guys, sub three seconds is all the difference in the world. You can always spend more to mod the interior.
You asked if there'd be buyers... Im saying if it were priced that way then it's an emphatic yes, there'd be buyers. The lower the price, the bigger the market.