A couple of quick comments... Mazda Luce was the 929's Japanese market model name, hence the homologation, also Mazda typically built rotary engined versions of their cars in those days.
Re the Camaro - don't forget the substantial weight penalty the car would have to carry if it used the 5.7 engine. As for the "why did they bother?" I would suspect it was because Ford had homologated the 5L Mustang and they were covering their bases.
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