Sarbanes-Oxley is probably not going to be repealed or significantly reformed, so was the point purely theoretical?

It's a mistake to view political barriers as insurmountable. It's practically impossible to repeal the legislation, but maybe someone will open another liquid market for equities through some weird loophole. And remember that we are talking about social change in a timeframe of decades here. There is no telling what could happen.

Efficiency and reason tend to win in the end. There is much to be gained by having less bureaucracy and red tape for public companies, assuming that they are public companies of a different type than what they are today.