It'd be cool if there was a way for that, IMO.
But as it stands now, simply dropping the fee <and doing nothing else> would make it so that you (or any other developer) could sell your code to any Joe User with instructions for how to compile it in xCode and copy it to their own devices.
That'd seems like it'd create a whole new market for apps that don't have to go through the screening process.
There is already a way for that. Just require that anyone who wants to use your code buy the iOS developer enrollment to get the optional upgrade to their device (certificates and provisions). Then sell your Xcode project or put it on github, and let anyone enrolled build, install and run it on their own devices.
This is a very useful distribution method for any code that's worth more than $99 to Joe User. If your code is worthless, or nearly so, then not useful.
Drop the fee, and the malware bots would reproduce like wild (with zero cost to replicate), sending billions of evil apps to every iOS mailbox and web page they can find. No iOS device customer needs that.