If they were to do it today, a Wrangler pickup would cost that much, yeah. But if introduced with a new platform designed to accommodate it, prices would be in-line with the rest of the lineup.
One thing Chrysler is, arguably, the world leader in is flex manufacturing. The WK Grand Cherokee/XK Commander and the LX 300 and Charger/LY Challenger are excellent examples.
A Gladiator certainly wouldn't be a volume model, but when sold both in North America and overseas, it has its place. Plus, the Ford Ranger is gone and the Chevy Colorado may or may not be sold in North America. There's still a place for compact pickups.
A Grand Wagoneer will certainly have a wider margin, but, as it stands, the Durango sells ~50,000 a year, and it starts way cheaper than the Grand Wagoneer would. The Grand Wagoneer is a ~5,000 a year model, optimistically. A Gladiator would still only be ~30,000 a year model, but Chrysler's models and their associated plant costs have typically amortized to 100,000 units a year to remain profitable-as long as the Wrangler stays near its present sales numbers, the Gladiator can afford to be a niche model.
That said, depending on the optioning, there's certainly an opportunity for it to turn into a popular fleet model-the main reason that fleet buyers loved the Ford Ranger was because it was cheap, simple, basic, rugged and efficient. If the Gladiator's base trim stays in-line with typical Wrangler base trims, especially if the rumours of a Rhinoliner interior option are true, it could reach the price point to take over that market.
Niche models on their own platforms are almost never profitable, but if you can work an existing profitable platform to suit, then they usually make sense-the Ford Raptor is a perfect example of this. Not to mention all the modern muscle cars-the Challenger, Camaro and Mustang are all based off of popular full-size sedans (The Dodge Charger, Holden Commodore and Ford Falcon, respectively)