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Not sure about sauropods, but I think a 1/12 T-Rex is definitely viable. With enough funds and/or backers you could even keep the cost down to under a couple hundred dollars. There're a lot of variables though, so who knows. But people plonk down hundreds of dollars for Hot Toys vehicles, so a couple hundred for a dino isn't out of the question.
Since this KS has gone over so successfully, I've been researching the production process for a 1/12 Rex. It's definitely something I'd like to happen
Pic related is the size a 1/12 Rex would have to be in relation to a six inch figure. (Sorry for the messy surroundings)
