Genghis
QFE is something that only works well in the UK - no airfields higher than 400' AMSL.
It wouldn't work nearly anywhere else - Leadville Colorado is 9,975' AMSL - so you'd be at an altimeter setting of somewhere around 20" of mercury if my math is right. They don't make altimeters with that much adjustment. And even then it's only good for the immediate airport vicinity.
In the long run, we'll be using GPS for altitude - it's already as accurate as any baro system, requires no transmission or read back of altimeter settings, introduces no significant errors after the spheroid is corrected, etc.
And when we look back on using barometric pressure for height measurement we'll be saying - who ever dreamed that up?