feasible?
That would depend on your definition of feasible.
Add about $10 for every component involved, and you triple the cost of a
bicycle for the stand.
Possible?  Yes, if you have all the bits lying around, like NASA does.
It's kind of like a Rube-Goldberg machine, though.
Likely? -well, as likely as a Rube-Goldberg machine.
That is, practically useless- but very entertaining.

I marvel at the complete waste of time involved. (although I do like RG
machines)