I’ve been thinking the same and exploring some ways it could possibly work along with any barriers to it.
Once the CVV is off the card, there is then no real visible barrier to implementing one time codes.
The objection I previously raised to that was that it would add a lot of friction and confusion by breaking long standing expectations of merchants and users for questionable gain. To counter this, you would have to explain to users where to find the CVV and redirect them from the expected place on the back of the card next to the signature box (a fairly small area to work with design wise but it could be combined with other things and extended to that blank area to the right) and in to the app in addition to explaining up front. Once they’re back in the app looking at the card screen, it’s fairly easy to deal with.
Of course, this ties card use even closer to the app but for internet purchases, is that really a big deal? It’s only physical purchases in stores and transport uses that should be always available when the app is unavailable to the user (battery dead, forgotten/lost/stolen phone, bad connectivity, etc) as far as I can see. This also only matters if it’s a one time or rolling CVV, you can always memorise or write down a static one. I’m also wondering if there are any cases where static CVVs would need to be generated for any kind of offline or delayed use.