The thing is there are no SMALL truck based SUV any more and I think there is a market.
The X-Terra is the same size as the Liberty, maybe a little smaller. There's also the 4Runner, too-and its sales are rapidly being taken away by the much nicer, unitbody Grand Cherokee.
Fun fact: Jeep has never made a mid-size BOF SUV. The old SJs were, by the standards of the day, huge. Modern ones would be the same size as the Suburban.
The last small, BOF SUV that comes to mind is the S10 Blazer/Jimmy, two unadulterated pieces of garbage. They ride OK, but the handling is terrible, the fuel economy is even worse, they tow horrible and had a surprisingly useless cargo area.
Here's the thing. The attributes people like in BOF SUVs-towing capacity, durability, ride quality, ect-do NOT scale into a small vehicle. Small BOF SUVs died off before they had a chance to really exist-that segment jumped right into unibody/unitbody, for good reason-the few that did make it out sucked.
You can't make a vehicle like the Cherokee any more. Safety regulations won't allow it. The current Patriot is almost dimensionally identical to the Cherokee, and it sits in the small
end of the compact SUV segment. There are no car platforms to hold it. Look at all the BOF SUVs based on midsize truck platforms-the X-Terra (Frontier) and 4Runner and FJ Cruiser (Tacoma) are all firmly in the mid-size category. The old Explorer (Ranger) was there as well. The rumoured possibly-not-for-North-America BOF Chevy Trailblazer based on the next-gen Chevy Colorado is as well.
If you want a midsize BOF SUV, buy a 4Runner or wait and see if the possibility of a wagon-bodied version of the JK Unlimited comes with the next generation.
There isn't a market. Not unless you and 149,999 other friends are willing to slap down money every year for one. (The minimum number of annual sales to make a brand new non-specialty platform profitable)