Has anyone done that?
Asterinas is such an experiment. Purely written in Rust and Linux ABI compatible.
It's not a fork of Linux but a ground up effort to write a kernel in Rust. Still they're trying to make it compatible with Linux/BSD
And, of course, drivers run in userspace and interact with the system through a clearly defined API.
Other systems like this include Robigalia, Lions OS and Genode.
They would likely quickly overtake Linux if they got 1% of the resources Linux receives.
Robigalia is also an effort, but one that hasn't been touched in nearly a decade.
Asterinas is such an experiment. Purely written in Rust and Linux ABI compatible.