•*Produce a full-featured M at <$4500. With a current-spec sensor. Buy them from Sony if necessary, and infuse the "Leica glow" with fairy dust in the covert bunker.
• If they must continue with the 'tribute' special edition BS, pay tribute to actual photographers who built the historical heritage, or contemporary photographers who are actually doing real work. Get those models photographed around the necks of celebs, and use that PR/those images to market to the celeb-worshipping crowd.
• Produce lenses at competitive price points. No reason why a 50mm should cost three grand.
• Make AF SLR lenses for Canon and Nikon? Start with the glass they've already engineered — the 28 Elmarit and 50mm E50 Summilux.... There might be a market for this, but i'm actually skeptical these lenses would match the performance of even the recent Sigma Art line....
• Reduce the price of the S2>S3. When there's a Canon 5D-something at 50MP, the older S2 with only a slightly larger sensor is going to look like a bit of a waste of money. If it doesn't already.
• Customer Service. Actually HAVE some.
• Stop creating marketing imagery featuring White Gloves. You're essentially saying, "this isn't even a camera anymore. We're above that." You're not. Get over yourselves before your client base dies (literally).
• Create traveling exhibitions of vintage photography. Display them in high-end shopping centers. Build the brand through the legacy.
• [Eventually] Make an eye-controlled (EOS3-like) AF camera in the same form factor as the M.