In a lot of ways, sure.
Levers differ from gears with how a lever doesn't make a full rotation and the ratio of a lever can be easily adjusted- No fixed center distance to deal with.
You could do the same thing as the lever arm with compound gears moving a rack attached to the toolholder, but then you'd have to change gears for every pitch.
I think the lever on the bed is a simple solution to the problem and it could be superior to changing gearing as the half nut function is retained.
To prototype the concept I think I will replace the toolpost with a short piece of linear guide rail fit to the compound T-slot and a threading tool mounted to the guide truck.
In counter, a "lever system will not accommodate a long thread, such as a lead screw.
Such is life.