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Believe it or not, first gen DVD-RAM came exactly like this. But manufacturers cheaped out / wanted the drives to be more easily compatible with CDs. So the caddys were scrapped.
Interesting, do you have a link to a picture?
There is one on the Wikipedia page.
https://en.wikipedia.org/wiki/DVD-RAM
Due to the caddy nature I believe there were plans or limited availability of double-sided disks. That would have made it so much more appealing I think.
