There kind of was, back when PSUs had multiple 12V rails and the 8-pin EPS and PCIe were on separate ones.
There's supposed to be OCP (Over Current Protection) on each 12V rail, which was supposed to prevent cable fires, along with prevent shorts from destroying other components in the system.
Multiple 12V rail PSUs were the hot new thing.... I think in 2000~2005? because CPUs and GPUs were starting to pull enough power to require an extra 4-pin EPS and 6-pin PCIe. Mysteriously, the pin-out for 8-pin EPS and 8-pin PCIe are different (foreshadowing).
But then somewhere along the line Nvidia/PCISIG decided to throw all of that out the window and we're back to a single 12V rail that can pump 600W over 2 cables and a high resistance connector.
Now, the real kicker is, Nvidia/PCISIG didn't have to use this idiotic 16-pin fire connector.
The XT90, which can handle 90A, designed for Lithium batteries, in RCs existed since at least 2015. IDK the exact date, but the fire hazard 16-pin connector was introduced in 2022. Even if Nvidia was prototyping the 16-pin in 2019/2020, the XT90 connector predated it by at least 5 years.