Lots of places around here go one step farther. We have many city intersections with no signs at all. On an intersection of two one-lane roads it makes a certain sense, as long as everybody assumes someone may be coming.

Do you see any scenario in which a 4-way yield would be more dangerous than a 4-way stop?

A yield sign implies that you must be prepared to stop if necessary anyway. Which means going at a speed where you can brake to 0 before being in the middle of the intersection, so maybe 20ft at best

I don't know, ask the cyclists. I'm not their advocate lol.