From a functional perspective, you can already do that using options, look at market neutral strategies for an example of how to construct a position like this. From a practical point of view, I doubt you want to get your nose into complex financial instruments just for that.
To your point, I _very much do not_ want to stick my nose into complex financial tools, hence my desire to use a more simple tool to get the exact value of "give me the thing I generally want, minus the one or two things I don't." Sounds like this is one option for doing so!
