This could be seen as an Audio-Sidechain variant that detects the dominant frequency in the input and sets the low+hi cut around that. The modulator would have two outputs, the level and the frequency. With that I can modulate a peak-filter in an eq. (freq * 60, like one would use KeyTrack modulator output) with a negative gain.
A variant that tracks the top-4 frequencies (8 mod outputs) would allow to replicate plugins like soothe to some extent. Alternatively the single variant could have a setting to select 1st to n-th, so that one can use multiple of them. I believe this would be less efficient though.
What problem(s) would this feature resolve?
This feature would allow to turn an EQ in something similar to the Soothe plugin.
How does this feature fit in Bitwig as a product?
I would be yet-another-modulator and probably nicely extend existing devices.
Is there already an alternative way to achieve this on Bitwig?
No
Could it be implemented using Bitwig components or APIs, without Bitwig team’s support?
no