If Meldon Quarry is to reopen, then the railway station for passenger services could reopen as well. It would assist with the walkers on to Dartmoor! It would only require a weekend service. Plus it’s another mile to reconnecting the line to Plymouth.
Highly unlikely - I think the bit beyond Okehampton isn't NR track ? And the station would need to meet all accessibility requirements etc.
Also there's a question of timetabling and I'm not sure they have enough time to run further than Okehampton to fit back in on the line to Exeter - certainly when they ran in 2019 the wait times at Okehampton varied between 4 mins and 30 mins.
Either way, this line is highly unlikely to be rebuilt to Plymouth - if an alternative is needed to Dawlish, then that will be built as a 100 mph + line slightly inland, but to ensure it serves the south Devon population which is *much* higher than Dartmoor's.