So do you want the Camaro to have 2/3s the power and a live rear axle? The Camaro is more expensive than the Mustang for a reason.
The Mustang has consistently outsold the Camaro forever. It is a more livable car. It has been in continuous production in one form or another since 1964. The current model has an unbroken heritage since 1979. Ford has excelled at giving it's customers what they want with their Mustang. I would wager that the Camaro won't last that long but the Mustang will live on. GM doesn't have the budget for halo cars at the moment. For Ford, the Mustang is not a halo car. They make good money on every one they sell.
In theory you can build a Camaro for $30k in Canada. In reality, try getting one for that at the moment. The Mustang V-6 is an excellent package at $24,449 including freight and PDI. GM is going to have a hard time competing with Ford with this. You can even put a V-8 on the road for less than $29k. It's a screaming deal.