This is obviously impractical. With the volume of bug reports that are generated and such a wide breadth of software no single agency will be able to handle all

This is obviously impractical. With the volume of bug reports that are generated and such a wide breadth of software no single agency will be able to handle all reports. And honestly? It doesn't matter, even today. CVE should serve as a reasonably deduped identifier of specific vulnerabilities. It was never interesting and practical to care about 100% of vulnerabilities in a specific deployment, and it's not interesting today.