> at basically no cost for the EV owner?
Only if you have a battery with unlimited charge cycles. This doesn't seem possible with current technology - and even if it were, manufacturers would still optimize for higher density and reasonable longevity after 100,000 miles. Most people would average a charging cycle a week, so they can't see the difference between a 2000 cycles battery and a 50,000 cycles one in the life of the car, but they can definitely feel the effects of range anxiety.
When you do daily or multiple times a day cycles, as is typical for grid applications, that's a completely different beast, for example a shallow charge cycle at 70% which increases the life 5x is much more profitable because it reduces overall battery replacement costs.
And when you factor in the much higher costs per Wh for car batteries, which are custom spare parts not mass produced commodity cells, you will find that the cost you incur in vehicle depreciation far exceeds the value you could earn from intra-day energy market speculation.