As you might imagine, I’ve had a lot of musings on things along these lines over the years. 
As anyone who has created continent or world scale terrain before knows, the very thing that makes fractals so powerful (self-similarity) also is their weakness, as continent and orogenic-scale processes (tectonics, isostasy, etc) are quite different, and look quite different, than regional ones.
On the other hand, it doesn’t have to be as complicated as reality (“all models are wrong, some are useful”). For example, if the user was able to sketch ending plate positions and assign velocities to each, it would be possible to get a pretty neat continent-scale generator that puts mountain ranges, etc in places in a roughly controllable manner. For fully-automatic random continents, you could seed those initial plates and velocities from something like a cellular noise texture.
This is all far-off musings, but a lot of my personal interests come into play when looking at world-building and geological aspects of CG terrain so it is something I"m actively interested in for fun