Well its possible allright but if its feasible is another question entirely. I mean its even possible to embed nuke in maya if you wish another thing enetirely how usefull it is for you to crash 2 separate programs in one go.
But yes maya allready knows how to play videos, and it marks times ad file loacation in nodes if you do that. But realli t all depends n what the desired purpose is. Do teh simplest thing that can possibly work well, and dont try to out cool your neigbour. At the end of the day its about getting things done. Ideas are cheap, implementations of said ideas is where the cost is.