If DEC could do it with their
FX!32 emulator then I don't see any technical reason preventing Nvidia or AMD to do it with their GPU's provided the GPU's were all compliant to the same IEEE standards (754 an so on).
Performance would be the only question. But as you are alluding to, this isn't about performance but rather it is about checking-the-box capability.
The problem with this type of a rabbit hole is there really is no end to it. Once you open up the definition of "general purpose computing" to include anything that possibly could be made general purpose with enough resources and programming then you could make the argument for every special-purpose microprocessor out there as being "potentially general purpose", and that really isn't helpful in answering any questions that we might have in mind when we contemplate GPGPU and APU.
Consider what it is about x86 that makes it describable as "general purpose". Think of why the
original 4004 was crafted with the idea of being a "general purpose" microprocessor and then consider what VLIW5 was created to accomplish.
The 4004 was used in things as varied as calculators to electronic typewriters to streetlight timer circuits. That's what made it a "general purpose" microprocessor, not that it was easy to program.
We haven't seen AMD use its GPU in a "wide variety of electronic devices". It is a rather specific type of
co-processor designed to handle graphics. You won't find it available as an embedded processor for internet phones or nav satellites, for example.
It is less general-purpose than the original x87 FPU coprocessor, which also relied on the x86 CPU. But at least the x87 FPU was directly addressable and accessible within the x86 ISA, unlike all this "GPGPU" stuff that is being defined outside the ISA.
It didn't work well for DEC, or for Transmeta, or for 3DNow!...not at all convinced it is going anywhere for GPGPU either.