We kind of have the taste of what capability-based OS would look like in form of a web browser: you can open a web page with a potentially-malicious code and it doesn't have access to any of your files or sensitive data unless you explicitly allow it to.
We also have it on mobile operating systems, although some things are a rather coarse-grained.
On desktop there's just a lot of inertia. Everyone switching to a new thing is kind of impossible, and some simple add-on to existing systems would look like containers/docker.
I think capability-oriented programming languages might actually be an easier way to switch to that model, as it's much easier to adopt a new application than a new OS. E.g. with language-level capabilities (ocaps) you can implement a safe plugin system. That's pretty much non-existent now and is quite relevant - e.g. getting pwned via an IDE plugin is the reality.
So maybe a "new Emacs" can be a way to get people to adopt capabilities beyond what we already have in the browser/cloud/etc. - IDE written in a new programming stack which is inherently secure to the point of running potentially-unsafe plugins.