There actually an Ethernet level protocol which performs a similar function: https://en.m.wikipedia.org/wiki/IEEE_802.1ag https://en.m.wikipedia.org/wiki/IEEE_8

There actually an Ethernet level protocol which performs a similar function: https://en.m.wikipedia.org/wiki/IEEE_802.1ag https://en.m.wikipedia.org/wiki/IEEE_802.1ag (delay is measured using a sibling standard https://en.m.wikipedia.org/wiki/Y.1731 https://en.m.wikipedia.org/wiki/Y.1731) Unfortunately it's normally filtered out by telcos so you are unlikely to be able to use it to probe your telcos Ethernet. That's what they use to probe hops between actual routers though.