You're basically proposing something completely different here.
So... while I agree you could do something as you describe, and I'd be interested to see the results of it, I'm not sure what the results would be like.
> The advantages I stated were
>> It would allow using full spectrum lighting, and would be easier to selectively filter.
All I can say is the CC results in that video were pretty great, despite the obvious caveats, compared to green-screen.
If you (or anyone) can build on it to do better, people will be interested in it; but there's obviously a difference between us idly speculating on how/if it might work, and this, where they've actually done it and shown that it does work.
> "they do, it's just uncommon and you haven't heard about it"
I've never heard of it being done.
If anyone has, please post a link or something.