Depends on what you're trying to get out of it I guess. As a center channel, it's hard to say it can't be done
Absolutely. For my brother's RV I designed him a center with a few Aura Sound full-range drivers. His objective was SPL not accuracy, but I chose the best full-range drivers I have seen (within $30-$45 per driver). They happen to be very cheap, and really awesome. I wish Aura's patent would expire. They have an epic motor structure. Anyway, It depends on the application. A full-range speaker cansound fine, but I have yet to see a full-range driver that can truly wipe the floor with the likes of TAD, Revel, Salk, Philharmonic Audio, etc.
Even if one could completely eliminate cone breakup, you still have high frequency directivity and cone area/bass to deal with. The more mass/area, the more the driver is suited for low frequencies. The smaller/less massive, the more the driver is suited for high frequencies. Sure, full-range drivers can be fine, but since the two ranges want the
complete opposite driver characteristics, it's hard to say they can rival a good 3-way system. They might get close if you add a subwoofer, but then you have a 2-way system with crossovers.
I agree with monkish. Finding one driver to cover everything seems like a near impossible task. I think dividing up the desired frequency range between multiple drivers in the least offensive way possible is the route to go.
IMO, the best way to go is active. You don't have to deal with passive issues like time alignment, impedance matching, xo phase change, xo frequency change with VC heat, and you can use very high order slopes. The one drawback is expense. If one wants an ultimate system they should quit looking at full-range systems and start looking at active solutions if they fear passive crossovers. There is no way a full-range speaker alone can beat the high and low frequency reproduction of my Philharmonic 2s and pair of W15gti MKII.
It makes me sad that 80k speakers use passive xo. Audiophiles allow the worst source of distortion to continue distorting so that they can choose which very low distortion component they want (amplifier). It makes absolutely no sense. Welcome to consumer audio, I guess.
That's not to say that every passive xo speaker is trash, but just that active xo are easier to design with less tradeoffs and drawbacks. The only negative is cost. With 80k/pr, cost is no object and therefore distortion should be at the lowest percentage possible.