When you issue that command in MemSQL, what does it actually do?
Physical replication in PostgreSQL is a bit more work to set up, but its behaviour is rather straightforward. As far as I understand it, all it really does is the same as a standalone database, except that instead of generating WAL segments in response to user queries that are then applied to the database, it gets them by streaming them from the master.
It's easy to see how the system behaves when nodes fail.
Similarly, a PITR is achieved by telling PostgreSQL to (optionally) retrieve WAL at startup from an archive and apply it until the desired point. The mechanism is identical to streaming replication, except non-continuous.
Referring to your comment below, postgresql.conf, pg_hba.conf and recovery.conf are data that can't really exist in the database, because it's needed before the database can even start up.
With logical replication in PostgreSQL 10, you could feasibly implement a command identical to MemSQL's, but the problem is that its behaviour is no longer quite so straightforward to understand compared to physical replication.