Because a typical drive has MILLIONS of tracks, and an RW head is quite wide, compared to its very narrow active area. It would not work.
Let's try some math:
A typical drive has 1.3 Tb/in^2 density. Assuming bits are approximately square (have a 1:1 aspect ratio), and the drive is locally linear, we can calculate that (ignoring ECC and metadata, which make the task even harder) that each square inch is 1.2e6 x 1.2e6 bits, meaning that you'd need a strip with a density of 1.2e6 read/write areas per inch. Assuming an outer platter diameter of 3 inches and inner diameter of 1 inch, you'd thus need this strip to be one inch long. So you need to engineer 1.2e6 RW heads instead of one and somehow fit 1.2e6 of them within one inch. I cannot even imagine how you'd do this, as each RW head needs to be a coil, and some way to get the data out (and possibly even a local amp)