Plottable fonts are a thing! They're different from the "normal" font we think of, because they need to be a path to be traced instead of an outline to be filled.
Yeah, even "normal" fonts have ligatures (a couple common ones in many fonts are fl and ti though they don't appear to be used in the font being used to render this comment), so this is definitely no technical obstacle if one really wants a font. Obviously a bunch of work to create, but pretty cool to have!