Are those 5 lug cobra wheels in the first pic? Not sure I've ever seen them in that lug pattern (not that I look).
10+ years ago there were a few guys that did terminator conversions in their 93 cobra's.
In later 2000's it wasn't an awful idea, 93 cobras weren't so valuable and at least they were using a cobra model engine.
In 2020? The idea isn't quite so acceptable.
I do like the idea of all motor and 8000rpm and it looks like they did the AC and hopefully power steering. So that would make it slightly more desirable.
For the record, I watched a really nice 93 cobra on ebay a couple weeks back, 4500 miles, went to 36k with reserve not met.
Also an lx terminator conversion nicely done that went to 26k reserve not met.
My point is, people pay up for conversions.
So while we may not love what they have done to a cobra, there very well may be collectors or buyers that are cool with it. It very well may not be a waste of money at least. Just a waste of a cobra.