It would still require a bit of hand shaping to make it nice. I've made several wooden caps with transplanted stems (too much work to make a stem like OP) and to really get them feeling nice, you have to hand shape them.
I知 going to start doing some testing of this a few weeks after KeyCon (also trying to cnc cut cases, and build a trackball, and work on some programming projects, etc., so no immediate timeline). You might be right, but I hope not, because it would be really nice to be able to cut acceptable keycaps on a CNC router without inordinately much extra work (outside the inevitable sanding and finishing). I hope with the proper mill bits and cut paths it値l be possible to do a pretty good job, but we値l see.