If we were to implement anything, it'd be PL/PSM (http://en.wikipedia.org/wiki/SQL/PSM). I'm sure it's as bizarre and quirky as anything else the SQL committee has brought forth, but it's at least a standard(ish) language.
So we'd choose a bizarre and quirky language instead of anything better just because it's standard. I'm sure current and prospective users will surely prefer a bizarre and quirky language that is standard approved, rather than a modern, comfortable, easy-to-use, that is not embodied by the ISO. No doubt ^_^
SQL/PSM is used in >>>DB2<<<, >>>Sybase Anywhere<<<, MySQL,
That's a way better argument that it's standard :)))
Still, I think postgres is in the position of attracting more Oracle than DB2+Sybase+MySQL users
Not all can be happy :)
We can implement SQL/PSM in conformity with ANSI SQL. But we cannot to implement PL/SQL be in 20% compatible with oracle - Aggegates, pipe functions, collections, without rewriting lot code.
I remember lot of projects that promises compatibility with Oracle based on Firebird -- all are dead. Now situation is little bit different - there are big press for migration from Oracle, but Oracle is too big monster.