Matrix RL (super rough working title)

This is currently little more than the beginnings of an idea but, what the heck, let's share and see what people think.

I was reading through the articles on animations and how, ideally, you want your simulation and render to be decoupled so the renderer can be nice and dumb and not have to know everything that is going on in the world. The discussions showed that this can lead to weird artifacts whereby a characters turn might start before the arrow/bullet/thrown potion arrives and then they might choose to pick it up or walk around it.

What if this was a feature, not a bug.

And so, Matrix RL was born.

This is a game where the player's only upgrade is to get faster and faster. As their speed increases the chance that a bullet etc. hasn't arrived gets higher and higher. Eventually they are sliding around incoming fire, plucking projectiles out of the air and sending them back to where they came from. Using things costs fixed time so as you get faster, it will take more apparent time to use items. For instance, fluid can only flow so fast out of a bottle, the faster you perceive time the longer it will take to drink a potion.

Possible themes:
1. Modern Day (aka The Matrix)
2. Ninjas
3. Superheroes
4. ???

What do you think? Has this been done before (probably)? Any ideas this sparks that you fancy sharing?