Even if you're dodging ~all the regulations which specify the current Black Boxes by adding a separate, independent system (and you'll still face a lot of regulations)...there still are three obvious impediments - (1) development costs, (2) unit costs, and (3) legal liability. Vs. the incredibly-long-odds theory that something might happen, eventually, where your new & better system would be a substantial benefit.
(BTW, my experience is that "the case could be made for X" is a polite way of saying "a valid technical argument could be made in favor of X...but in the bigger picture X is clearly the wrong theory / engineering choice / business decision".)
And, given the rarity of aircraft crashes, the benefit to some small subset of the industry adopting an incrementally better system is probably pretty much nil.
(BTW, my experience is that "the case could be made for X" is a polite way of saying "a valid technical argument could be made in favor of X...but in the bigger picture X is clearly the wrong theory / engineering choice / business decision".)