When you say it would make a great swimming pool, is that as...

When you say it would make a great swimming pool, is that as good as it gets in even and ideal world scenario? I have enjoyed your informative posts and appreciated you taking the time to share your obvious knowledge of the industry. This one fascinates me so I've kept a close eye on it wondering when the inevitable .001c share price will be hit.
For interest sake, Lets say this went into administration, all debts were wiped, all the permits they say they will get have been issued, and there is an auction to buy it free and clear so to speak, lets pretend this is in 6mths time. What would it be worth to someone? Zero, $500k, $2m, land value only, or you'd have to be paid to take?
It is hard to believe it would be worthless given the money they have spent on it but the by the sounds of your posts it is just that! It's really that bad?