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Something similar can be achieved by using explicitly named continuations, though they carry more overhead in the happy path than exceptions (but are far cheaper to throw and catch!)
https://gitlab.com/xmdr/ananke/-/blob/master/drafts/notes/co...
Yes -- I think historically the power of condition handling was not well understood and algebraic effect handlers were a "rediscovery" coming from well-studied category theory (Plotkin, Power, and Pretnar).
If you want to play with "structurally typed condition handling", then the Koka language has "row-typed algebraic effect handlers" that compile to C: <http://koka-lang.org>
