I could see possibly standardizing on fault ranges 100-199 is temp faults, 200-299 is incoming power faults, etc. That way glancing at the number would at least give you a hint at what is going on.
However, since a lot of the device manufacturers also have existing legacy fault numbering, you would need an additional setting to choose to display their new "standardized" numbers compared to the older preexisting fault numbers.
Manufacturers will sell what people buy. If users push hard enough, it could happen. But I don't see it happening, and there are enough purchasing people who buy based on cost and nothing else that plenty of manufacturers could ignore the standard and do just fine.