I'm not so sure about that. It's impossible to make things without unwanted series/parallel resistances because conductors/insulators aren't perfect. It's impossible to make things without parasitic capacitance because without a perfect insulator, any two points have some capacitance between them - just like how there's also a parasitic gas discharge tube if the electric field between terminals reaches the dielectric breakdown voltage of air (this is another two terminal device, it's just not linear). These are all well-known physical phenomena that we deliberately assume away when we draw simple schematic symbols on paper, and then have to add back in when they end up applying.
Constraining the domain to two-terminal AND passive AND linear devices, one will have a very small number of possibilities for equations that describe them. Good old R/C/L that we know and love, and purportedly "M". But what is THE physical process that M describes and therefore gets made interesting by?
One could create a battery-powered opamp circuit that had two external terminals and fulfilled whatever equation you dreamed up (once again up to the limit of your abstraction, in this case constrained to lower frequencies). But the existence of that equation/device doesn't imply that there has to be a low-level physical phenomenon that will let you directly implement it.
Every time I try to read about memristors, I grok the bits in isolation, but mostly come away confused. C and L have state as well, and would also make great computer memory but for those nasty parasitic effects. From the wikipedia page: researchers everywhere are working on memristors, yet memristance was documented 200 years ago, yet the creator is arguing that the definition applies to phase change ram? I almost feel it's the "Cloud" of device physics research.