It all comes down to the power level and speed of your environment. Is it slow enough that you can afford to leave mana up for a bounce spell and then take part of a turn to re-deploy a card? Will you be punished for durdling around or do you have openings to loop value? Do you have decks that can use these bounce spells in other ways such as proactively removing blockers for better attacks?
You can definitely build out an environment where bouncing has its own place, just comes down to a matter of balancing the pieces around the strategy. You temper your actual removal a certain way (maybe at a higher cost), figure out what threats and payoffs can work with your suite of interaction, and you try to figure out the play patterns you'd like to promote. Like just think back to a set like Dominaria a few years back where in Limited
Icy Manipulator was still capable of putting in work and you'd often just wait to kick cards like
Ghitu Chronicler because you knew that you could get to 6 and recur that burn spell. There are more than enough cards that should help you accomplish this idea, you'll just have to clearly define where your cutoff will be for overall power level to make it viable.
The main problem you'll run into in a higher powered cube is that at some point Wizards decided that they should just print a bunch of cards with ETBs and on-rate bodies rather than make them weaker to account for a stapled spell like they had for years. This has led to many pushed designs over the years pushing the bar of "playability" if people wanted to actively include newer cards, many cube designers feeling that they have to evaluate cards against the
Doom Blade just for any consideration, and the term "Baneslayer" almost becoming a derogatory for cards that don't immediately impact the game for you.
This is where you'll run into the biggest problem because so many of the coolest designs that interact with various cards and promote cross-pollination of archetypes just exist at a higher base power level than you might want.
Tireless Tracker is one of my favorite designs ever, it's a neat package that can do a little bit of everything while promoting fair Magic and on-board interactions, but I also know that it's too powerful for many designers to include if they have a particular power level in mind. I still remember how thoroughly I got stomped by it in an SOI draft where it just kicked ass in a U/G Clues deck. Having too many cards like this creates a kind of power barrier for entry for other cards so you have to be mindful of your density. However, I do think that having certain cards like this that can create spikes in gameplay are healthy for any given draft environment. It'll just be up to you where you want to draw the line because homogeneity is also something to avoid unless your synergistic archetypes are very very well defined.
TLDR; Definitely possible, gonna take a bit of elbow grease to make it a reality.