Thin-ITX is great, because it is currently the best solution to make systems with discrete dual-slot GPU and external PSU between 3-4 liter. But the big problem is that it was not designed to be used in gaming setups. Thin-ITX is for AIO setups and nothing more. A case with a custom DCDC board and powered riser will work, but it will be too bulky for the normal user. So from the business point of view it will be not worth. Necere to come back to you initial question, I think it will be not a good idea to develop such a PSU.
Here are my four K.O criterions for a thin-ITX gaming case:
1) PCIe 4x Gen3 --> it will be a real fight to let everybody know that it is enough
2) with external PSU --> there are no real strong PSU on the end-user market. If the unit will fail in 2-3 years the customers will have no replacements. Furthermore you have to ship your product with the PSU this will be a real fun with CE fulfillment.
3) thin-ITX is dead on the end-user market no options for enthusiast
To make thin-ITX interesting there are two things to do:
1) switch from PCIe 4x to 16x
2) 24pin power socket or a good DCDC board integrated in the thin-ITX board with a 8pin output socket (like MSI Trident )
At the end you will not directly design a case with thin-ITX you will design a barebone system.