I'm not sure how useful that would be. First of all, though it's been a while since I used a MagSafe-equipped computer, I do recall that it was pretty easy to cause a temporary disconnection by bumping the connector, moving the computer around, etc. Not a big deal for just a charging connection, but would be a problem if storage devices were also running through it. I use a dock setup now, with power and data going through one USB-C cable now, and even if MagSafe could handle data, I wouldn't feel comfortable using it.
Secondly, when you think about a more traditional setup (without a dock), the power cable is the one that is likely to be running along the floor to an outlet (creating a hazard that someone could trip over it and pull the computer off the desk), but external drives and other devices would probably be on the desk next to the computer, so not much chance of that cable being tripped over.