I agree. I2C is about the worst choice to communicate over a wire. I would not even use it for communicating over a backplane (=PCB which connects several boards). Better use RS485 with some protocol on top of it.
the people building ATCA and IPMI certified equipment disagree. Dell, HP , Oracle, Cisco .. you name it ...
I2C is the only bus offering hardware handshaking and collision detection (without data corruption ! )and arbitration.
That being said , you are aware of this no doubt :
"Two or more Sx or Sy I/Os must not be interconnected. The P82B96 design does not support this configuration.
Bidirectional I2C signals do not allow any direction control pin so, instead, slightly different logic low-voltage
levels are used at Sx/Sy to avoid latching of this buffer. A regular I2C low applied at the Rx/Ry of a P82B96 is
propagated to Sx/Sy as a buffered low with a slightly higher voltage level. If this special buffered low is applied
to the Sx/Sy of another P82B96, the second P82B96 does not recognize it as a regular I2C bus low and does not propagate it to its Tx/Ty output. The Sx/Sy side of P82B96 may not be connected to similar buffers that rely on special logic thresholds for their operation, such as the PCA9515A."