Hockey is too much of a niche sport for that to ever happen.
Many things that were supposed never to happen eventually happened. Like the collapse of the Communist regime, or my local hockey team playing in the world's second-best hockey league.
I don't see why a world-wide hockey league with an American and a European/Eurasian conference couldn't become reality one day, decades from now. Teams go on road trips as it is, and the distance covered by, for example, my KHL team (western-most in the KHL) when traveling to play games in China or Vladivostok is much longer than if my team went on a road trip to the American East Coast (probably also longer than American West Coast).
Logistically, there are no objections. Business-wise, there may be – for now. That's why I said it's likely to take decades to create a world-wide hockey league. You can't possibly pretend to know, today, what the world will be like in 30 or 40 years from now, right? Will the US still be the world's no. 1 financial super-power, or will that perhaps be China by then?
I mean,
no one would have guessed, in 1988, only 30 years ago, the reality of the world we're living in today. So, assessing the feasibility of a world-wide hockey league from today's standpoint is no more than guesswork. It's OK to be pessimistic in that regard, but I prefer to be optimistic.
By the way, hockey being a "niche sport" (a debatable assertion) would, to me, speak in favor of creating one strong world-wide hockey league rather than several weaker ones dispersed around the globe. In unity is power, as they say – and a global hockey league might help make hockey more popular around the world.