In my own profession, medical lab science, we know that probably 70% of people come from Canada's top three of the four source countries, with the exception of China. So for us, that would be an obvious place for us to create something.
You've touched on the complexity of it, in that sometimes individual regulators are doing credential evaluation. You've seen the limitation of whether simulation would be accepted by a regulator as being on par with the clinical practicum. It's fraught with political problems, and I don't know how one would go about encouraging the change in immigration policy.
For a profession to do it on a profession-by-profession basis, it's probably feasible, but for it to become embedded in policy might be difficult.