This already exists, if you're buying an expensive item such as a yacht or an airplane, it actually makes accounting sense to structure it into a corporate ownership. When you need to resell a pricey item, you might not find a quick buyer for a $50 mln item, but you might find 10 fractional buyers willing to pay $5 mln each.
For all intents and purposes, there's no tax associated with owning a yacht, either at personal or corporate level, so it's not like there's a massive loss of federal revenue here either way.
For all intents and purposes, there's no tax associated with owning a yacht, either at personal or corporate level, so it's not like there's a massive loss of federal revenue here either way.