Throw it all in a blender or food processor. Taste and balance salt/sugar/sour (note it will get sweeter on cooking). Bring to a simmer on the range for 10 minutes. Done.
Easier recipe: Mix ketchup, liquid smoke, and Sriracha. Don't cook or wait or any other funny dance. You'll get all of the same ingredients and flavors as above only with fewer...uhh...ingredients. No food processor required because Heinz, Huy Fong, and Colgin already did that part for you.
Hmm that's a good point. Maybe in portions of the America's you could have better access to certain of the raw ingredients, for example, high quality dried peppers from the south
Bonus: You get to try something you've probably never done before