Not insurmountable problems in making one,,just not a very large market for one .
The larger diameter of the rimmed 38spec case makes for smaller magazine capacity in most instances as the few rounds curve quickly as they stack. Not alot of room in a 1911 or M39 frame/mag for the long 38special cartridge with anything much more than the wadcutter bullet.
Though the Bullseye guns are set up for 5rd capacity anyway.
Kind of defeats the purpose of a large frame center fire pistol for most peoples uses.
At one time they tried to re-invent the wheel with the 38AMU (Army Marksmanship Unit) round. Simply a rimless 38special in a Colt1911.
Worked well, but ,,They finally just skipped the 38Special use and went to 45acp for all the centerfire course.