Tribblix is an operating system derived from OpenSolaris, OpenIndiana, and Illumos, with a retro style and modern components.
NEWS: October 24th 2014: Milestone 12 released, with alternate-root zones, and the usual updates. See changes.
It's proved that the concept can work, and while it certainly isn't fully functional, complete, or yet suitable for production use, it's getting closer. You can download the image, install to a hard drive, and use it.