Customer: "Son, I'm 75, I don't see so well anymore!"
Support guy: "Well, unless we can find out if you have a USB 3.1 Gen 2b compliant with Power Delivery 20W hub or a USB 3.2 Gen 1 DP+ SuperSpeed 10GB hub, we won't know what alternate modes your cable must support in able to connect that mouse to your laptop m'am"
(and for example, macOS doesn't support DisplayPort MST, requiring an encapsulation over Thunderbolt to support that scenario...)
tldr: it'd be possible to make such a hub, but it's so complexity fraught that a _lot_ of companies would avoid doing it, USB Type-C is just too complex.
Coupled with the nightmare of guessing which USB-C cable supports what, I have the feeling preventing us from further confusion has never been a decisive factor in product making.
I have a laptop that can do USB 3.2 (or something). I can charge it through those ports, but it doesn't do Thunderbolt of any kind.
I have a small desktop in front of me that's power through an external adaptor, like a laptop. It has a USB-C port that doesn't do video output of any kind and which can't be used to power the computer. It has another USB-C port with a bolt on top of it. It does thunderbolt, it can output video (I've driven an Apple TB display with it), but still can't be powered through it. It also doesn't output video through the USB-C dock, which works on the laptop.
I have another laptop with a USB-C port with the bolt on it, and it can be powered through that port.
These are all ports directly on the computer, no hubs required.
Since then, building your own PC has gotten easier and easier. As you say, mostly if it fits it works. Which I think is great!
But how did plugging stuff in from the outside go the other way...
But now we're at the USB 3 (and seemingly 4) stage of things - hence my "plugging stuff in from the outside go the other way..." statement.
Between varying capabilities offered through USB 3 and cables/hubs/docks that support those varying capabilities it is a bit hit and miss whether plugging stuff in will work or not.
I now know (not yet personally verified, from other comments on this article) Lightning 4 branded cables should support all connectivity possibilities and power delivery. It doesn't solve patchy device support but at least it is one step better. Connect two USB3 devices with a Lightning 4 cable is a bit silly marketing wise but at least it is easy to support.