A version of (say) FreeDOS that was layered on top of the EFI API instead of PC98 firmware interrupts would be quite interesting. That would be a major architectural change to most of the programs, of course. But one would have provided the EFI Shell with essentially a complete suite of MS-DOS (albeit not PC-DOS or DR-DOS) commands. That could probably be quite easily ported to (say) ARM whereas the original still has x86isms.

On the other hand, did you see https://github.com/FlyGoat/csmwrap when it came up a few weeks ago?

* https://news.ycombinator.com/item?id=44101828

There are already projects to provide replacements for the vanished Compatibility Support Module.