Yes, but you are effectively turning your box into a single user system. And that's fine if you are happy to work that way, but the origins of the directory structure is of course in multiuser UNIX. As a sysadmin, I would not want my /bin /sbin exposed to everyone. In your example I question the security implications of being able to run those binaries outside of root anyway (esp. in a professional environment) if you have your box exposed on a network.