I think that should be something that can be looked at. Player for player is a good way for people to get what they need while not paying so much to get it. You also avoid the loss of cash in the transfer market. I would be all for this option. Its a common thing for two managers to see players on another team that would fit perfectly in their line up. That same player might be doing nothing for the other team.
It could be like the loan transfer market where managers would put up another player or players as currency and both managers would need to agree on the terms. No cash needs to be involved, but that could be added as well to offset the value of some very expensive players. We can always hope.