A cardinal raised that possibility recently:
The president of the Pontifical Council for Promoting Christian Unity said in an interview that the Vatican would entertain a hypothetical proposal by Lutherans to establish ecclesial structures modeled on the ordinariates developed for Anglican communities that wish to enter into full communion with the Holy See.
“Anglicanorum coetibus was not an initiative of Rome, but came from the Anglican church,” said Cardinal Kurt Koch, referring to the 2009 papal document that established the ordinariates. “The Holy Father then sought a solution and, in my opinion, found a very broad solution, in which the Anglicans’ ecclesial and liturgical traditions were taken into ample consideration. If similar desires are expressed by the Lutherans, then we will have to reflect on them. However, the initiative is up to the Lutherans.”Cardinal Koch also said that both “’progressives and traditionalists suffer from the same ailment”: a refusal to interpret the Second Vatican Council with a hermeneutic of “renewal in continuity.”
“Both see the Council equally as a break, even if in a very different way,” he said. “The Holy Father has questioned this understanding of the conciliar hermeneutics of the break and proposed the hermeneutics of reform, which unites continuity and renewal.”
You can read a fuller report here.