I agree about the usefulness of thought experiments, but there are many other much more useful thought experiments, even in the domain of hashes.
A large number of people have thought for several years about how to improve MD5, and the results were SHA-1 and RIPEMD-160.
It is very instructive to study the evolution from MD4 to MD5 and to SHA-1 and RIPEMD-160, but it is very unlikely that attempting 30 years later to do something better than those, without completely changing a hash algorithm structure that is now well understood as being inappropriate, can teach you anything.
Not as a thought experiment. Thought experiments help you to grow.