Sure, but the span of machine languages that are in actual use occupy a small cluster of possible design space. MIX, the language invented by Knuth, is not within this cluster. Maybe computer architectures in the 1960's looked like this, idk. I wouldn't know: I'm not that old.
But it's also a weirdly esoteric, crusty machine language. If it was a Turing tape machine, or an idealized stack machine, that I'd understand. Those are invented architectures that are amenable to analysis and in which the analysis (e.g. maximum stack size, maximum tape use) reflects fundamental properties of the algorithm.
But MIX is just this weird thing that neither resembles CPUs you are likely to use, nor is it particularly useful for analysis.