Yeah, it would be really cool!
But using a dedicated video editor is probably the best way to go.
Luma Fusion is cheap and easy to use as an example.
Users with 2,4, and 6 GB of RAM will probably end up using virtual memory. And everything slows down to a crawl.
Original animation drawings, animation cache and then adding audio files to the mix will be problematic to fit into physical memory.
An iPad with 8-16GB ram will probably work. But personally, I can't afford one and I guess it's not only me.