Multiple points of “failure”:
wrong address wrong amount wrong chain wrong coin
Kraken, a Cex I use often allows you to cancel a pending (status: initiated) outgoing transaction. This doesn’t last long, however. To my experience, it is up to a minute, but no more.
What if wallets and exchanges offered this simple feature? It seems fairly easy to implement and would help if you immediately realized your mistake.
Will it help against people sending funds to scammers? Absolutely not, and that’s not the point of it.
However, any fat-or-not finger mistakes will be avoided and fees can be saved if found out early enough.