Making it could be done, Mercurial already exists for example. Perhaps a next-gen version introduced with all the lessons learned over the last decade.
Getting folks to use it would be very difficult due to network effects however.
So true. I live a mercurial life, in a git world. Thanks to hg-git, it is easy to use it and just treat the remote git repository as a black box.
After having rewritten history locally (with Mercurial this is easy, powerful, safe and with a lot of tooling available) everything you need to do is doing an hg push --force.
For one, hg histedit with its curses interface (default since 4.9) is sweet.
Getting folks to use it would be very difficult due to network effects however.