Things like these aren't fun without some kind of memory protection (virtual memory for example), which has been around in minicomputers since the 70s (remember the PDP-11?). That makes toying around with your own OS just so much more fun, that I wouldn't do it on an AVR for this reason alone. The basically non-existant IO bus capabilites of AVRs add to it. Doing stuff with minicomputers and SPI is just no fun...