I might be wrong here.....
if a camera manufacturer made a low megapixel body version of their high resolution version,
wouldnt the low megapixel version have the better ISO / DR abilities due to the bigger sensor lens photosites?
Maybe, maybe not. The key factors are:
a) How much light is falling on the sensor?
Obviously larger physical sensor area wins here.
b) How much light is actually captured?
Sensor design makes a big difference and earlier versions were not so good, leading to the belief that more pixels always led to more noise. But modern sensors have all the 'furniture' moved to the back so it can't block any light, plus gapless microlenses collect more light right to the edges of the pixel well, and off-set microlenses are better at collecting off-axis light around the edges of the sensor. These days, more pixels certainly doesn't automatically mean more noise.
c) How efficient is the image processing chain ?
Basically, newer cameras have better signal amplifiers - the processing engine.
More pixels does mean sharper images (from the same sensor format and lens) but the difference is slight and you'll need to look close at big enlargements. At normal viewing distances, as explained above, it's very hard to see once you get above quite a modest threshold of 12mp or so. If it's sharper images that are needed, then a physically larger sensor and better lenses are the ways to go.*
*NB Actually the best place to start is usually with basic technique - critically accurate focusing, stable hand-holding and fast shutter speeds, low ISO. And the light - overcast days reduce contrast and images will look pretty flat regardless. Bright sun enhances contrast and sharpness.