That's basically how C# came into being in the first place. Microsoft "bought" Anders Hejlsberg of Borland Delphi fame, and had him create a "better Java". And IMHO Visual J++ was a much superior Java, with a visual designer that was much more advanced than anything else available back then. The problem? It was very much Windows Only (tm) if you wanted to use the advanced features. Sun was not happy about this. And the end result of the legal struggle was that Microsoft used Visual J++ as a base for C# and scrapped Java compatibility.
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