I've been through an H1-B transfer myself, the lawyers didn't seem to think it was a big deal. From application to acceptance I don't think it was even a week.
I think if your idea was implemented there would be little change in H1-B mobility. Fact is, a foreign worker just has fewer options in the host country for lots of reasons and paperwork is the least of it. The foreign worker probably has no professional reputation outside their own company. Their degree and experience may not be understood or respected. Worst thing is that you're not allowed to have any significant period of unemployment - and even in the cases where you can, family and friends unlikely to be able to help you through a rough situation.
As you may or may not be aware, I'm personally aware of you and value your opinion significantly more than an average HN commenter.
Therefore let me just say that one of the reasons that I would suggest the bond from the initial company is to cover the potential government obligation in the case of a significant period of unemployment. Does this not seem to be an important difference? If not, then it would seem that the H1-B status is not as different from a regular citizen as I thought, and employers of H1-B visa holders do not have as much control as I thought that they did.
In theory it could be abused -- as long as you could support yourself, and could pay off the host company in some way, you would be pseudo-immigrating to the US. That said, I kind of think that should be allowed anyway. I live in Canada, where we have free trade with the US, but not labor mobility, which to me seems nuts.
After losing the job, H1-B holder is supposed to find a new job or go home within the grace period of 90 days. There's no "significant period of unemployment". Where are you getting your facts from?
If you re-read that, the possibility of a significant period of employment is part of my suggestion, and is supposed to be a difference from the current status quo. Therefore I'm aware that this is not how things currently work.
I think if your idea was implemented there would be little change in H1-B mobility. Fact is, a foreign worker just has fewer options in the host country for lots of reasons and paperwork is the least of it. The foreign worker probably has no professional reputation outside their own company. Their degree and experience may not be understood or respected. Worst thing is that you're not allowed to have any significant period of unemployment - and even in the cases where you can, family and friends unlikely to be able to help you through a rough situation.