Sure, but an iGPU as fast as that probably wouldn't make much sense in today's systems. To start, those APUs can draw a couple-hundred watts under load, making them less practical for laptops and other compact devices, at least without massively increasing the graphics core count (and in turn price) to run them at lower clocks. And at that point, you are pretty much doing what dedicated GPUs in laptops already do.
And for desktops, you are giving up the ability to upgrade the CPU and GPU independently from one another, along with potentially the RAM, so if you replace one component, you would need to replace all the others along with it. Effectively, that would make upgrades largely obsolete, like in many of today's laptops, meaning if you want more performance, you would need to replace all of them, and might as well buy a new system, even if some components are still providing adequate performance.
You would also be placing all the heat output from both devices together in the CPU socket area, making cooling more difficult, at least without a move away from the ATX form factor. There's also the question of whether it would even reduce the cost of having two separate components by a substantial amount. Aside from being able to share a pool of fast memory, the benefits of soldering the CPU and GPU together seem questionable. Since the GPU portion would be the most expensive to produce, you would effectively be selling a GPU with a CPU attached, rather than the other way around.