Doesn't make sense - you need to impedance match anyway so every transmitter will have series resistors for that already, you don't need to worry about devices fighting each other in a transmission line used for signalling, the hardware won't mind, but you will need to recognize a collision.
Open collector is usually fairly slow due to the pull up (a current source is a better pull-up, note, but doesn't work on a transmission line as its not impedance matched), but you can do clever things with open-collector - checkout how OneWire bus works for instance to allow device enumeration over a vast address space in very short time span...
Two shortcomings:
1. The source doesn't need to be matched. And in general (among interfaces mentioned), it isn't, it's much lower. RS485 isn't
that much lower to be fair, but it is on the low side, so that a 2.5-3V transmitter still makes 1.5-2V into a double-terminated bus. For TTL buses for example, this ensures adequate signal level for all receivers; for differential receivers like this, signal level isn't as important, but it does need to be conserved for purposes of unit loading and line length.
Conversely, CMOS point-to-point links prefer source termination, so that full signal level arrives at the receiver without drawing continuous source current when driving electrically short traces (i.e., fractional clock pulse duration). This doesn't work so well for multi-drop or stub buses, however, where end termination is preferred.
At least one termination is required, therefore any source impedance will do for an end-terminated multidrop bus, as long as it delivers adequate signal level.
2. There's nothing inherently slow about OC compared to any other terminated bus driver. The bandwidth of the bus is dictated by its cross-section (waveguide mode breakup), consistency (signal quality), and losses. The bandwidth of a transmitter will be lower than this due to capacitance, or whatever equivalent impedance it has. Capacitance can be peaked out to a modest degree, and we can choose higher-FoM devices (minimum size Si BJT or MOSFETs; SiGe; GaN), or apply RF techniques (but then, maybe a distributed amplifier isn't very digital anymore
).
The same basic architecture is used for 100BASE-T, for example. Two OC drivers, in push-pull, are terminated into 50Ω each, locally. The transformer couples this to a 100Ω line, terminated at the far end, so the drivers see a 12.5Ω load, each. At a typical 100-200mA current consumption, signal level is around 1.5V, as specified. This could just as well be driven single-ended by a totem pole circuit (and 6V supply), which I suppose was how it was done back in the coax days (or maybe not: transformers were in common use back then, too), or bridged into differential directly (which is in part how Gigabit does it).
Tim