BMW builds the M2 for people who want to buy a sports car that felt like an older, purer, M3, and the parts developed for the M4 made it viable. Then, BMW decided to keep things exciting by introducing the M2 Competition, which has even more goodies from the M parts bin, as well as a beefier engine.
Alpine builds the A110 because the brand wanted to come back with a bang following its 1995 demise, and Renault knew its motorsport engineers could design a solid Porsche Cayman contender if they put the money behind them.
As a result, the front-engined, 2 Series-based M2 Competition, and the mid-engined Alpine A110 both have dedicated aluminum chassis that couldn't be more different from each other, despite their similar pricing and performance.
Perhaps the most telling figure is that with 155 horsepower over the Alpine, the BMW is only 0.3 seconds quicker to sixty, or 0.1 if you're really good with a manual. That's because the M2 weighs 3582 lbs. (), while the fancy Premiere Edition of the A110 is 2431 lbs., or just 2380 lbs. if you choose the lightest European version.
Now, if only Renault would sell it in more than the current 15 countries...