As to why it wouldn't work?
Alright.
A) Persona has lots of characters, there aren't that many people here who like/play Persona.
B) A party in Persona usually consists of 4 characters at a time with one acting as support. But there is a total of up to 9/10 usually. So it'd have to have a consistently available group of people, and parties would have to be planned ahead-of-time as to not run into the issue of one character just not being present when they're in the party.
C) Again, sort of a niche series that not everybody is interested in.
D) Besides the "Playable" characters, we'd need villains, and they usually consist of Shadows, humans who are evil, or evil deities. Villains aren't usually revealed until the end of the story so there wouldn't be anything like in WP or RPM-Vengers where we have stuff like the villain just spinning in a chair doing stuff while laughing maniacally.
E) Failing having enough people for each person to have one character, some people would have to double up, and that requires either a lot of Talking to one-self or tricky work-arounds.
F) I'm not a writer!