Cost versus benifit, thats all it comes down to. For all intents and purposes anything is possible if you want to pay for it.
The vast majority of accidents are solved with what we have. So for the cost of implimeting something better what outcome do we get in a cost analysis.
Think of all the aircraft in the air at any one moment, then think about the bandwidth needed for your application, on that 24/7 basis. From simple location via a sattelite, who does it go to and who is the responsable party for it and how long to they need to keep it.
Then theres streaming data from parameters, how many and what update rate, including CVR, who pays and what bandwidth for the thousands of aircraft in the air at any one time.
Then it all has to be certified for use in the air. Its all possible but there has to be a good reason for it. And not just knee jerk reactions.