Technolgy can of course make things work. Whether a company provides a product line is mostly a money thing, both in available resources to invest (engineers and money) as well as long term returns.
The open rotor concept got a good airing in the prop-jet programs. One of the chewing over points was the read-over of the current safety regulations to these unique installations. Nobody wanted to see any hint of lessening of safety in any one regulatory paragraph, regardless of any argument that overall it might look good.
There isn't much interest in starting from scratch in writing a completely new regulatory section for unique ideas so trying to fit a round block in a square hole by adopting a regulation to fit takes time away from generating novel ideas.
It isn't as simple as calling it a prop (it installs differently on larger aircraft and flies different)