A guy from Australia posted somewhere on here that his club did this very same thing. They speced the motor, esc, tires, chassis, body... almost everything on the car.
It worked for his club because the members bought into it.
Could it happen in here the States? Probably, but you would need a really good group of people to pull it off.
Should it happen in VTA? Probably not. I've raced my Sakura Zero and TC3 against a lot of TC6.1s finishing smack dab in the middle of those brand new cars. As with any class, it's up to the driver and his or her skill level, amount of practice time, setup knowledge, etc, etc, etc.
What would be nice is if people realized that to be good it takes practice, practice and practice. Buying a brand new [fill in the blank] won't make you as fast as the guy who, by natural ability or a great deal of practice, owns that same [fill in the blank]. The [filll in the blank] won't drive the car for you. Track time is invaluable and can't be ordered from Tower Hobbies.
The only thing that could possibly work would be specifying a single "low cost" chassis in the rules so that all VTA racers will have the exact same chassis.