I think this is a lot simpler because each of your pixels is assumed to have a single, correct DC value. This doesn't hold for a time varying signal like AM/FM.

An image is quantized into pixels. A camera pixel is a receiver for a specific wavelength, subjected primarily to internal wideband thermal noise during the read-out process. Each final output pixel is averaged both in time (exposure and stacking) and space (debayer and noise reduction), with the final single being singular amplitudes per location.

An AM audio signal is a single wideband receiver subjected to wideband noise. Or, if viewed differently, a series of quantized frequency receivers each subject to a matching noise frequency. The sampling is in the frequency domain, but the final signal captured is is the amplitude variance over time for each frequency, responsible for a single audio frequency.

But yes, your underlying point stands: A theoretical AM receiver that demodulated repeated signals independently and correctly averaged their outputs might gain better wideband noise rejection. Better, but not good, and at a cost of complexity approaching that of better modulations.

Signal0: infinite SNR. Signal1: anything less.

I just don't see how the output of averaging these would improve over Signal0. I don't think it can.