What's the point in speculating on such a theoretical situation? Besides, there have been .22LR conversion kits for 1911's and dedicated 1911 .22LR's for many years now. Yet there is a strong enough market for the 22/45 to coexist and it probably outsells all the rest. Typically, the Marvel Unit 1 notwithstanding, 22/45's will tend to shoot much more accurately than 1911's or conversions.
PS, took a look at the new GSG 1911-22 this afternoon and it looks like a winner and quite affordable at $325. Vastly better looking pistol than that pot metal Chiappa monstrosity.