Various hurdles exist along the path. The popular parlance notes that baseball is an "individual sport masquerading as a team sport," whereas basketball outcomes are much more of a product of five interwoven parts. Then, there's the issue of whether basketball even collects enough data, or at least the right data, from which to draw conclusions.
The latter is especially concerning on the defensive end of the court. Dean Oliver, the godfather of the "Pomeroy" stats, suggested an expanded boxscore, which would include forced field goal misses to allocate defensive stops more appropriately, rather than just giving credit to the player that ultimately rebounded the miss. Without such a change, Oliver's defensive rating disproportionately favored big men, who could rack up huge numbers of rebounds and blocks, while guards saw their ratings primarily dependent on the only other input to the rating - steals.
Critics of Oliver's defensive rating launched a bevy of arguments, including the lack of a "forced miss" statistic and the circular nature of assignments (even if you could single out defensive performance, the best defenders draw the best offensive players, which would cause the best defenders to look more average than they actually are).