Yep, command queues are basically how drivers have been for decades now anyway. It just happens to be more widely exposed in user-facing APIs now. If you can call them user-facing APIs. They are hard to use and get right, and nobody writes directly against them. Instead it's best done through a higher level API (eg. an asynchronous system call API) or even higher level through not even knowing about it (eg. modern game engines).

Modern caches are heavily pipelined in order to saturate links and well, as you probably know, games are 1-2 frames behind but do tens of thousands of GPU operations per frame.