For starters, the DRAM manufacturers may possibly be the biggest penny pinchers in the semiconductor business. They're too cheap to use differential signaling even on GDDR memory. I'm not saying that PCIe RAM is never going to happen, but as somebody who works with DRAM controllers and DRAM vendors, I can not fathom a world where DRAM manufacturers put a PCIe controller on each chip, especially one capable of Gen 6.0 speeds! The extra die area, complexity, and bringup testing necessary for a PCIe controller is insane
Second of all, the latency would really destroy system performance. The DDR protocol is designed to minimize latency (well kind of, there are still speed targets that need to be met.) The whole point of using a parallel bus with unscrambled data is to eliminate encoding/decoding latency. PCIe uses a Serializer/Deserializer (SerDes) that's scrambled on one end and then de-scrambled on the other end using a LFSR. It also goes through an adaptive tap filter. After that, the ordered sets from each lane are assembled and sent through a FIFO for clock domain crossing/timing recovery. All of those steps add latency to the system, and that's before we get to the Data Link Layer and Transaction layer. While I'm not well versed in CXL, I know that it shares the same Physical layer (a SerDes Phy.)
Now you might imagine a chip with one PCIe end point that fans out to an array of DRAM chips on the back end, and you don't care that much about latency. But then that makes PCIe RC and EP in the system redundant because you could put the DRAM controller where you would otherwise put the PCIe controller. Now it might make packaging easier and allow for a cheaper version of DDR to be implemented, but is there a net savings? and does it justify the latency hit? Maybe. I'm not saying it's never going to happen, but I wouldn't bet on that tech.