I just ran the calculations. For my small two acre farm, it would cost about $145,000 to apply this treatment. And it would require the entire on-hand supply of compost from the mega-compost facility that's located about 25 miles away. The delivery charge would be about $30,000 and it would require around 4000 gallons of diesel. Then, once I got the compost to my place, I'd have to spread it out and make beds. The labor required to do that would take more than is available during a growing season. Then I'd have to be constantly applying more mulch during the year.
My vegetable garden is huge by community standards, but it only occupies about 1/30th of the acreage devoted to growing vegetables in my community. This treatment can be applied to a small garden, with little concern for costs of labor or materials, and without considering externalities like the amount of fuel consumed or environmental factors. It doesn't scale well for community use... There are not 30 mulch production facilities in this area that could supply enough mulch for even my small village. There are a couple dozen villages in the valley and several towns. As a first approximation, this strategy would require about 600 mega-compost production facilities to serve my valley. I figure that it would take about 400 acres to grow enough plant material to cover my farm 12" deep with compost.
While fuel is still cheap, and while externalities don't matter, this is a great way to build soil fertility. Many people throw their wealth away: Mining their property of nutrients and sending them to the landfill. Might as well take advantage of them and put the nutrients to good use on our own places.
A two acre field:
A different perspective on the same field: