FPGAs have two notable problems with respect to academic
research. 1) There is a lack of advanced hardware designs
available to use in such studies. (Software simulators
have become relatively featureful and widely/freely
available.) 2) FPGAs are not as broadly available as
commodity processors (i.e., "everyone" can be expected to
have access to a personal computer but relatively few will
have access to an FPGA).
Software simulation is very slow but widely available,
FPGA-based simulation has substantial barriers to entry
and is a bit slower (and the tools for generating FPGA
logic for more abstract simulation are probably very
far from mature and readily available).
The proposed mildly configurable hardware would allow
_limited_ simulation at high speed (and so might have
a useful place alongside other techniques). Such
configurability might be useful for increasing yield
(providing more bins), saving energy (a shallow OoO
window might be more energy efficient, e.g.),
supporting specialized operation (e.g., some embedded
systems desire way-locking), or other uses; so the
design effort would not need to be paid for only by
the benefit to research.
I would guess that this idea is, however, even less
useful than tilting at windmills.