I've said this many times before but pilot flight time rules would make this utterly, utterly impractical.
Such a route could only be flown by EU or Australian airlines. As far as the Europeans are concerned, there is quite enough blood on the carpet already over current and imminent FTL rules, which from memory go up to 17 hours absolute maximum. There is no way that European airlines would reopen that can of worms just for one route. The EU would never countenance another country's airlines operating into their territory with rules so divergent from their own.
Europe-Australia has never been that big a market and now Emirates etc have grabbed the lions' share of it. No point in stirring up a huge amount of grief re-writing the rule book just to be able to offer a product that arguably most passengers don't want or need anyway.