It’s trivially true that oncologists do the best they can, but there’s still a whole lot of room for improvement. Right now the best treatment involves identifying the type of tumor. Unfortunately tumor categorizations are pretty crude – all that can be identified are some pretty broad characteristics, like size, density, histology (what it looks like under a microscope), etc. The problem is that for a given type of cancer, as defined in the clinic, there are multitudes of different genetic causes that could cause it. And (as the current thinking goes) the genetics are what really determine how a tumor will respond to different treatment.
So, currently, an oncologist can identify a cancer type, but in a lot of cases there’s not much good data about which treatments work best. For a given cancer, we might know that treatment X works effectively in 40% of cases, Y works in 20%, Z works in 30%, and some proportion is effectively untreatable*. Which works best for a given patient is pretty much unpredictable, so treatment breaks down to “try all the options until one works”. We don’t know why one treatment will cure one patient, but exarcebate the tumor for another patient.
The hope is that with better understanding of genetic causes of cancer, and better genetic tests for patients, we can make better treatment decisions. We’ll instead be able to say that one particular treatment will be effective for nearly all cancers of a given genotype. And we’ll also be able to identify new targets for currently untreatable cancers.
This won’t happen overnight of course, but there are a lot of very smart people making good progress, a little bit at a time.
But the OP’s idea? Actually rather good idea, it just happens to be very very expensive – costing something like six or seven figures. Which is too expensive to be used in treatment, but within the budget of well-funded research groups, so it’s an approach they use to understand the genetics of cancer. Or, conversely, I know of many groups that take a converse sort of approach, and test a given experimental drug against libraries containing hundreds of different cancer cell lines.
*Totally made up but not unrealistic numbers. Some tumors are much more treatable (treatment Q works almost always), and others are untreatable (nothing works reliably, but one patient in a hundred might respond very well to something you try randomly).
Usual disclaimer: I’m not a cancer researcher, but most of the people in my department are, so I’ve talked to them a lot and seen a their work in talks and posters.