This is what the Primates of the Anglican Communion proposed at their meeting in Dar El Salaam in 2007 (see especially paragraphs 25-28).
It has taken 11 years for someone to finally say we should give this a shot. It’s not ideal, but it is a way forward that still holds out hope of reconciliation.
If only our Episcopal Church had been willing to do such a thing. I suppose it’s never too late (when it comes to God), but wonder if our denomination might look at something canonical and concrete for those who want to remain with the rest of the Anglican Communion? If we had done, might we have seen the dioceses of South Carolina, Fort Worth, Quincy, Pittsburgh, San Joaquin remain? Would we have defrocked over 800 Episcopal clergy? Would we have seen the loss of more than a quarter of our average Sunday attendance since 2007?
Such a proposal may be a way forward. Let’s pray that the Anglicans in New Zealand are willing to hear Archbishop Davies out and err on the side of generosity.