If you replace your "one wallet per address" by a watch-only wallet, you can add random addresses to your wallet to make it look like they belong together. It would be even better to make this a hidden feature, so you can add watch-only addresses to your normal hot wallet.
I am a little bit confusing with your post.
I know with a watch-only wallet, it's allowed to add many Bitcoin addresses to it, and watch transaction history of an address, and many addresses too. It's simple to understand.
With your post, I feel like you meant that I have a hot wallet with private keys, that can be spent, and I can add an address or addresses to that wallet, and have such addresses as watch only only. It's quite strange with me, the first time I read about it.
I tried to test with Electrum wallet and there is no way to do that with a hot wallet.
Seems like I misunderstood your post because afaik, there is either spendable wallet or non-spendable wallet, there is no hybrid wallet.
Before testing, I thought that it can make a hybrid decoy wallet but I also imagined it only escalates risk for users because adding a new or some Bitcoin addresses with watch-only and have balance into a hot wallet will possibly bring more danger of more severe physical attacks.