I've thought about that, too, but it would require that all of the key individuals at OpenAI would have been willing to stay at OpenAI under his ownership.

That seems unlikely to me given how divisive he is. OpenAI already had one existential leadership crisis without Musk. I doubt it would have fair better under his notoriously difficult leadership. If he had wrestled control away, I would expect an exodus of employees going to new companies.