You'd do it because the million dollars in parts is peanuts compared to the combined salaries of the engineers who are paid to have the specialized knowledge to do this, and the time it to bring up a new application/car. I know that a million dollars is lowball, but this same principle can be applied to other components and scaled up (to a point).
Potting electronics in epoxy isn't terrifically difficult, and would greatly increase the durability. I'm willing to bet that a potted Beaglebone Black (for its real-time subsystem) would do just fine in my engine bay for a very long time. The hard part would be getting a single large-pin-count plug coming out of it to handle all the inputs.
This point is actually kind of moot because for a long time the ECUs of cars were located in the passenger cabin with wires fed in through a grommet in the firewall.
I'd wager that the cost of replacing this system with some standard real-time platform is so monumental, it won't ever be done. Good luck getting the automotive equivalent of BSPs (board-support packages) running on any system other than this.
Where this gets interesting is when the people who actually know this system die start retiring/exiting the market. There will be a pretty strong incentive to 1) keep reusing the same system with no new development, 2) accept the lead time in training students/etc, or 3) start paying crazy salaries for people to go out of their way to learn it.