A number of Chinese companies produce DIN rail mounted PLCs which already cover this market, cost virtually nothing and actually emulate Mitsu GX ones so work with existing off the shelf tools and have the same real time guarantees as the commercial units. If you're going to cheap out, these are fine.
But this isn't the problem. The expensive bit of a PLC is the dude perma-welded to the cabinet. Last thing people want to do is rock the boat by expanding the risk to a vendor like Arduino, which quite frankly doesn't have a great reputation or history of tested industrial or reliable hardware. It's better to pay 3x as much for a well established vendor.