The issue is concentrations and the presence of them in sufficient amounts to be detected reliably and consistently.
edit: typo.. words are hard.
There are hand held sequencers for your phone now (minIon) that are very cheap and work. There are also large multimillion dollar bench top machines on the same technology from nanopore. Both are very new technology compared to what we used in early 2000s, and offer various different features and certainties from the analysis.
However, it is foolish to say that the minIon is impossible. It works. It's just less resolute than other systems.
This is true for many systems which people cry "Theranos" about. Their issue was lying. That was the problem.
Low concentrations will NOT be reliably detected. That's part of why such a comparatively large sample is taken when you go for the traditional testing.
I'm not even going into the simple fact that once chems are introduced into the sample to generate reactions, the sample can't continue to be used.
Exactly how many times do you think we can split a single drop of blood?
Edit: good talk, even if we disagree. :)
It's very unfortunate, because it is technically possible, just very difficult to achieve, even in academia (so it won't be done first in industry).
This was the absolute worst part of Theranos, is that they deter others from trying to make headway in the space at all.