They don't build stripped down cars because the masses don't want stripped down cars, despite what a few people on a car enthusiast website think.
Most people view cars as modes of transportation. I drive about 35,000miles. I would never buy another car without heated seats. In fact the next car will most certainly have heated seats, heated mirrors, heated wipers, and if available at that time - cooled seats so I can sit in the car in my suit in the summer without getting swamp ass.
Honda builds commuter friendly econo cars because that is what sells in mass. What sells in mass is cheaper to produce, therefore large econo car companies actually have better profit margins (and as a result are more profitable. share holders say cha-ching, thank you.) than ultra-exotic car companies or any kind of specialized car manufactuer (in general).
If you want cheap and stripped down, there's already a car manufacturer for you - Kia. Even Kia's followers have demanded modern conveniences such as power everything.
If my phone can manage my email, my calendar, surf the web, play music, tell me the forecast for the next week, serve as a modem, etc., etc. than in 2009 I expect quite a bit more out of my car in terms of modern conveniences.
This is just my opinion but I believe the car sale statistics support my conclusion. The WRX/Evo were some modern takes on stripped down cars to sell to the masses, that have since been watered down to capture more market share. SRT-4 didn't make the cut either.