Example.com > Worldnews > 2020 > 06 > 14 > Big aquatic monster spotted outside of Tokyo
or
forum.example.com > Sport > Football > Spain > Real Madrid
It could then work like in Explorer in Windows 10, where you can press one of the breadcrumb separators and see a menu with siblings, or go straight to all news this month. It could use some manifest file in a standard format on the server for the directory information.
Of course, this should never replace the URL completely, you should always be able to get to it easily. But URLs aren't necessarily always the best solution for navigation. We tokenize code and apply different colors, mouse over pop-ups, and links, why should the URL bar be a long raw text string when it's really contains structured data?
This Google nonses of hiding everything except the domain is not a good solution IMO, it doesn't solve a problem and makes it harder to navigate, not easier.