What we really need is a federal law that says states can't entice businesses to move or stay in some place using monetary bribes in the form of company-specific tax cuts. Reducing this manipulation could help tax revenues instead of states competing to be lowest bidder.
Sure but the point being that that would incur an exit tax from most major countries, whereas the freedom of movement within the US creates this weird system where you can gain incredible wealth benefitting from the infrastructure and economy of one state, then just walk away and decide not to be taxed any longer. I'm not saying it's a bad thing, just that that ends up screwing over the state in the long term.
With internet sales, it seems like the benefit from local infrastructure and economy is increasingly small. Especially when we are talking about CA and NY, known for tech and finance, which are very geographically unlinked. Even physical products tend to be shipped using infrastructure from receiving states.
In general, the incredible wealth is mostly luck.
Taking more on the income (including cap gains) side would be the better solution than wealth or exit taxes. This would also be more impactful on inequality than an exit tax.