In theory, yes. In practice, many people hate certain privacy-related aspects of Chrome, so someone created an ungoogled version. You'd think it would become an instant hit, right? Wrong: most people on HN commented they would never install a browser built by a random person. It's paradoxical but this is how things are. You'd need to have a very particular position in order to be successful as a fork (e.g. MariaDB, LibreOffice). Most forks just die out as not even their creator uses them.
Not to mention that Chromium is massive and complex and unwanted parts of the code have been found and removed long after they were added https://archive.is/4VijY.