In my opinion, Ford should launch the Mustang under the Lincoln brand in a more luxurious version. For example, under the name Lincoln Cougar (because Mercury no longer exists) All potential competitors of the Mustang are premium cars. BMW 4 coupe, Audi A5 coupe, Mercedes C coupe, Jaguar F-type, Lexus LC 500, So why not Lincoln?
I'm not the only one trying to imagine what such a car could look like:

And this is the Lincoln Mark X concept from 2004:

Source - Google