I am very ignorant about this, but couldn’t this be solved with a config where you specify “hearing loss at these frequencies at these levels” and then the headphones increase/decrease this frequencies in response? Obviously, there needs to be a standard, and hw that listens to the standard.
It could. Apple AirPods actually support this (using a real "Audiogram") but annoyingly they currently "average" your two ears and don't apply an ear-specific correction. Which for someone like me with perfect hearing on one side and supposedly "Mild" but realistically quite significant hearing loss on the other side is a real pain.
There are already quite a few products in this space:
Bose HearPhones
Nuheara
.. and many more.
Frequency response is similar to an EQ, but there are lots of other problems. There is feedback, which is worse at higher amplification, which people with more severe hearing loss need. There is wind noise.