Hi
@karatechud, welcome to Martial Talk. I'm someone who is 3rd degree black belt in TKD and working towards 4th, and am currently training BJJ (getting ready for a competition in 1 week) and Muay Thai.
First, I'd like to separate TKD from BJJ. The point systems in both serve different goals. The point system in Olympic-style TKD is to reward the person with the most difficult strikes (spinning kicks, head kicks, or better yet - spinning head kicks). It's a sport that doesn't try to ground itself in a self-defense scenario, but rather to reward points for the most difficult strikes to land. BJJ scores points for actions and positions that are advantageous in a real fight. BJJ is criticized for pulling guard, but pulling guard scores no points. Take-downs, passing guard, sweeping from guard, and dominant positions of knee-on-belly, mount, back, and back mount are what score.
Second, we've actually seen a few developments to your point. Karate Combat and Combat Jiu-Jitsu are aimed at including striking and grappling together. We've also recently had the Muay Thai Development League with NHC (No Head Contact) and LHC (Light Head Contact) brackets. This is something I'm actually interested in looking into more after my next BJJ competition. I don't like the idea of giving or receiving a concussion, so this seems like a great league. This is a points-based league that actually moves away from the "applicable to self defense scenarios" and moves more towards "safer for someone who has to go to work the next morning".
Third, we have MMA. MMA is pretty much the closest we can get to a sport format that mirrors real-life fighting. Unless you want to add in weapons, and then HEMA or Kali is going to be your choice. We've also recently seen full-on self-defense competitions from Martial Arts Journey on Youtube, but those are very elaborate productions that are expensive to replicate.
Personally, I want BJJ and TKD to stay relatively where they are. I like that the Muay Thai Development League is moving in that direction, because with less focus on knockouts I'm actually interested in trying it. I don't think they're perfect, but I don't think it's possible to be perfect.