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A while back someone was telling about loading rimfire ammo. Not reloading, but buying primed brass and handloading your own.
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Correct. When the development of the .17 Hornady was underway, guys in the slicks wrote about the developers loading rimfire ammo, and at that time some components were available. Reloading isn't feasible for the reasons stated, but handloading is/was possible.
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Maybe a few reasons.. maybe not...
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1) The rifles will handle more pressure than the .22RF can safely generate - the case is the weak link here.
2) The development of a wildcat was one reason in my example.
3) Possible, and a few precision shooters still play with loading their own using loaded ammo and substituting powder and bullets. Some of them claim better accuracy; check out
Precision Shooting magazine from time to time for details.