Not this way, or not at all for all anyone else should care. Banks are paid interest for taking a risk, so let them take the risk. No other country on Earth has credit scores like the US, and they don't want them because credit scores are disgusting, inhumane.
Sorry, what you said is false and easy to verify.
Well, clearly they have to have some way to tell. Or would I be able to borrow hundreds of billions to buy TSLA because I think it's undervalued in your example.
Clearly, banks assess how much to loan at what interest rate, and those numbers are different for different people. How else do you think they should make their decisions?
There are plenty of creditors today who have no or poor credit, and they can still get loans (especially for cars) it’s just at absurd interest rates. Eliminating credit scores will just put everyone in the same (very high) bracket.
If you want to actually fix the system, substantially raise the barrier to non-revolving accounts reporting debts and make a reasonable process to dispute that debt.
Credit agencies should be more mediators than data-sellers.