Forget discussion of assets.
the DEID club's assets (Ibrox, Murray Park, the car park etc) are still in contention (wee Craig's company Wavetower believes it has prior ownership and anyway it's believed they're owned by "far Eastern investors" who get huge rental monthly from the loan-infusion new club).
the liquidators are already in there, trying to save something for creditors...
I think being DEID is sufficient punishment.
However, as a bit of their history was corruptly "gained", what should happen is that the titles should be stripped, asterisked or whatever. And that would not hurt, no one would be hurt - remember we're talking about a DEID club here. It would be merely reflecting truth and reality.
Fans of the new club (if it can continue - and also when yet another rebirth of another new club happens)can believe all they want, that all the titles were won by a 6 year old club(or another new 6 month old club) but the world will always know different.
no one can inherit a history. Even though I know all his songs, I am not and never will be - John Lennon.
the cheating titles have to go. It will punish no one.