Per discussions at WikiCite 2017, this might be something worth doing. Nothing decided yet.
Template:Cite Q exists on en.WP (experimental). What would be the benefit (or detriment) of a separate extension? I guess I can think of at-least one (namely, Cite Q currently requires an expensive API call), but I think the description should probably have something more than "we don't know if we want to do this" 😄. Let's get a preliminary list here.