I think the best outcome would be if some Corona developers or someone skilled in Corona can take it on, maybe even keep the current server-based build system, but charge a subscription of some sort for developers that are making a living from Corona right now. I think those are the developers who have a bit more resource, and more stake as well…
As for alternatives, we, like others, have taken a look. We feel that Unity 3D is super heavy for 2D gaming and MUCH more time consuming to work with. We haven’t used Game Maker Studio, but (not to pour water on some other plaftorm), some of the the donwload numbers that @fireabbit mentioned are (while big for steam), rather modest for mobile F2P games.
Also, moving to any other platform means a complete rebuild and retooling, when we really need to be working on new games/features. So, just not very viable for us. We prefer to figure out a way to make Corona stable & usable for as long as possible.