Sure, theoretically, except in practice when they actually try to do that, the community flips its shit and we end up with hard forks into shit like Bitcoin Cash and the shit show keeps rolling.
As mentioned, the problem is that increasing that value enough to matter could increase the storage/etc costs of monitoring the blockchain to an extent that would be prohibitive for many people.
If those costs come down then the "efficiency" can be increased without any impact. It looks like in the last decade they dropped about 10-100x:
If those costs come down then the "efficiency" can be increased without any impact. It looks like in the last decade they dropped about 10-100x:
https://hblok.net/storage_data/storage_memory_prices-2017-12...
http://drpeering.net/FAQ/What-are-the-historical-transit-pri...