I clicked on this with a lot of hope — alas, this only seems to address the "mailbox access" part of E-mail. I think that part actually works fairly well today (not optimally, but well enough in practice). The part that really needs fixing is SMTP.
The other part that is really lacking is security, in particular 2fa. The proposed standard says that obtaining credentials is out of scope, which means it will remain in the realm of vendor-specific implementations.
Edit:
Though having a dedicated /auth/login path that takes a JSON post with {username,passphrase,2facode,...} could be readily defined where any of the above parameters are optional. The response being a token that's used as the previously mentioned authorization header.