If non-fungibility is just a constraint of current technology protocols, and these protocols could be extended in time to allow exchange of larger swathes of to

If non-fungibility is just a constraint of current technology protocols, and these protocols could be extended in time to allow exchange of larger swathes of tokens of different degrees of dissimilarity then the only things stopping this at the moment would seem to be demand - is that right? I.e. if Joe owned a uniquely verifiable, exchangeable and trackable piece of code, and so did Mary, then both of these codes could be pooled on the same market no matter how they differed within the constraints allowed by the protocols for verification, exchange and tracking?