I’ve never heard of a strata plan being wound up by a compulsorily appointed strata manager (although I’m sure some have occasionally wished they could).
The manager replaces the owners corporation in terms of managing the strata scheme. He or she doesn’t replace the strata scheme as its owners and only owners can wind up a strata plan.
The scenario of imposing punitively high special levies that force everyone to sell could be dealt with by an application to NCAT. However, if those levies were essential to keep the scheme above water, presumably because of years of neglect of both the building and its sinking fund, then they could and would be applied.
That’s when the owners might ask the strata manager if they could sell the block to a friendly developer.