I always wondered what the world would be like if Microsoft had just made a 32 bit DOS instead of going down the WinNT/95 route. Most of the headache in config.sys and friends was because you were working around the 16 bit address space. However, there was something really nice about owning your entire machine and only needing command.com for the "operating system". Compare this to full operating systems which consume gigabytes of disk and memory.

This hypothetical 32 bit DOS could've had memory protection and multitasking too. Obviously device drivers would add complexity, but it doesn't need to be as complex as it's become.