Disclaimer: I've never climbed Everest or any 8000M peak
With that out of the way, this is pretty interesting thread, but there have been some pretty wacky suggestions here, as well. Sure, it's probably possible to climb Everest in a pair of Nikes with fifteen pairs of socks, two inner boots, some overboots and a pair of Kahtoolas for traction, but it seems like a pretty foolhardy idea to me.
First, think of the complexity of such a system. How long would it take you to put on the whole system in your living room? Now, how long would it take to do the same thing when your fingers are frozen, you can't see clearly, and you have the mental capacity of a four year old?
Now, what happens when you're hiking on the local crag and you snap the frame or shear off the points of your aluminum Kahtoolas? You have to choose an alternate route, maybe postpone your trip altogether? And if the same thing happens at 27,000 feet? You die.
Don't get me wrong, I'm all for advancement and innovation in outdoor gear, but when I look at a boot like the Olympus Mons, I just don't see much that you can take off of there and still maintain some level of safety and redundancy in an environment like Everest. Also, complaining about the price of such boots seems pretty silly to me. How much is each of your toes worth? How much is coming home alive worth? In each case, my answer is "a heck of a lot more than $700".