I can see how you came to wanting this but I think it could lead to dangers for many.
For most people (this is not financial advice for any one person) money in checking and savings should have a low rate of return and therefore low volatility because they need or may need that money to actually be there to pay bills or in times of crisis (emergency savings). Once you have these two pools of money, then you should invest in retirement and finally extra taxable investments. Most people should automate the money going into retirement and investments I agree but turning your entire checking account into a volatile/uninsured pool of money I think is the wrong direction.
For most people (this is not financial advice for any one person) money in checking and savings should have a low rate of return and therefore low volatility because they need or may need that money to actually be there to pay bills or in times of crisis (emergency savings). Once you have these two pools of money, then you should invest in retirement and finally extra taxable investments. Most people should automate the money going into retirement and investments I agree but turning your entire checking account into a volatile/uninsured pool of money I think is the wrong direction.