Yes, but not a complete blanket as that. This would allow other stores, which allows different App Store rules. So, for example, you could actually have a store that's more locked down if you wanted - no subscriptions (this forum would actually like that). Or SetApp, where everything in the store is covered under a single subscription. Or upgrade pricing, etc.
It doesn't stop Apple revoking developer certificates, as you will still need these to develop and publish applications. This is how the Enterprise distribution works. We still need a specific Enterprise account, and to justify its existence every year (I'm currently doing that this month at work), and Apple can kill it when they want which would revoke the certificates, which would kill the applications.
Apple still has the kill switch.