Has it ever been considered to use in-memory databases?

It would require a separate chore to move data from the operational database to the historical database, it also will require to redo how this information is handled in the storagenode API (it must combine data from two sources (three if we account both operational databases - in-memory and on the disk, also historic DB) for each metric).
it’s as complicated as it sounds. As result - it likely slow down the node and anything what would request these metrics.

I do have more hope into this research: