What is missing, and probably will always be so, is a bare-bones registrar that offers the cheapest prices + cheapest renewals, that is 100% trustworthy and fair, and will be around for ever.
Quality is expensive. So "cheap" and "quality" do not necessarily go hand-in-hand. That is why people invented the term "you get what you paid for".
And besides, a business that is surviving on just very small profit margins, may not be a very interesting business to keep in the long run. Some things like "time spent and emotional stress" have unmeasured financial value, that if you add them to your cost, you would end up losing money instead. It's not worth it.
That's the same idea with Domaining for lots of people. Sometimes if you are just earning 50 or 100 bucks, that profit may not be enough to compensate the amount of time and effort you spent spamming emails, countless hours scanning drop lists, and going all through the negotiations and all.
So you would need to understand that some business will have to raise their prices, otherwise the business would not be very worthwhile to run.
Perhaps a major hosting or marketing services company could develop such, without any expectation of profit, just as a way of getting more leads for their core business?
That strategy has been done by others, outside the Domaining business.
For example, Sony and Microsoft are both losing money on their PlayStation and XBOX consoles. They are not earning anything from selling these game machines. But they try to lure customers to their platform, so they can sell game software. And that's where they make money.
Another perfect example is Google. They give away free software to attract customers to their software platform. Then they earn money from advertisers who take advantage of customers going to Google.