I did quick search, and it actually looks feasible. Libs are available, PyQT, text file for storage, sync and storage reliability provided by Git. I even picked up name 'Lookout' :-). Now I only need the right motivation, perhaps if akonadi or k9 mail piss me off again.
It worked ok, until my needs started going beyond simple text and images. There is a horrible issue that caused due to file locking after you make changes because the Google Drive client and Zim aren't really talking to each other at all. Every once in a while GDrive will attempt to sync exacly when you are editing the file and fail.
Evernote's clipping/reading functions of the browser extension finally won me over. Evernote also has much better UX+UI compared to Zim.