It's certainly possible and available in some areas, but rare. Mesh and 4G enabled meters are a step in that direction, but the head-end/SCADA in most places would still buckle if it were to happen at scale. At my last fiat job with a big utility we couldn't even get permitted stuff connected in a timely manner, massive solar fields sitting unproductive for years (thanks government subsidies!)

Back-feeding at peak rates would certainly help accelerate amortized recoup of gear, but if you ran the numbers I have no doubt you'd find it would still be a cost, or a risky to break-even investment at best.

There's trillions of dollars chasing any whiff of energy arb that may exist, if you can plug in a panel to arb it, so can industrial scale solar. The real arb is going off-grid completely, but that's still a risky to break-even investment given the duration over which you'd have to amortize it.