These types of multi-tier compute systems/MITM processors are now being implemented. Microsoft publicly discusses their efforts here:
https://www.microsoft.com/en-us/research/project/project-cat...
https://www.microsoft.com/en-us/research/project/project-cat...
I feel like we do not yet have a calculus for analyzing the mix of "entanglement" of data across transactional expressions. It is a problem I've puzzled over since about 2001 when Steve Kleiman asked me to scale file systems without speeding up the processor.