The point is they've already shown the desire to commit resources to the project AND advertise it, which indicates. I'm not going to say it's a done deal, but it's not completely unrealistic, per your original assertion.J-31 is not marketed for sale . SAC is advertising J-31 as a potential future product , sort of technical demonstrator that they too could produce fifth gen fighter . There is still lots of work to be done , and lots of money to be spent .
You're making a lot of assumptions about the cost to revenue ratio of such a project. Anyways, I get the inkling we're slowly but surely treading into off-topic territory.Well , if you want to create "export fighter" , you do that to earn money not to lose it . If R&D costs lets say 20B $ , and you earn just 10B $ selling your product , you have a huge financial loss . In order to avoid that you would need to research market and determine are there enough concrete buyers to reasonably cover your risk - or are there potential partners who would like to participate in project and cover part of the R&D cost .
On the other hand , if PLAAF chooses to finance J-31 they will pay for R&D so SAC would not need to worry about that .