To do so Kodak Alaris would have to sell them big rolls of Portra 400. I do not see a point for them doing so.
220 was a niche but necessary product in a few ways. Back when Kodak killed it 220 was a big part of a movement in the wedding/portrait world who were embracing film in a big way. They were shooting Contax, Hasselblad, and Pentax 645 cameras and having 32 frames per roll throughout a series of 5 or 6 inserts could keep you moving for a long time. Weddings these days require a crap-ton of shooting so slow downs are not good. Having a dedicated film loader wasn't strictly necessary if you could preload all your inserts with 220, but with 16 shots per roll it definitely is. For this group, the loss of 220 was a huge deal and really took the wind out of their sails. Since then prices have really gone up too, so a lot of these folks have since gone back to digital. Even José Villa, the OG of the Contax 645
thing, is shooting a lot of digital now. He's probably the most sought after shooter out there for the wealthy and celebrity crowed so it would be nice for Kodak if he was still in it for film.
IMHO costs are less of a problem for film than just workflow simplicity. Make it easy to get film, have it processed, get scans or whatever you are seeking, and people will do it. Put up hurdles and people drop out. If 220 came back even at $35 per roll, the people who need it would buy it by the case.
Kodak I know didn't really have a choice but to kill 220, I understand that. But if there was a way to start having it produced again, they should look into it.