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Could Marvel/Netflix go this route with Cage and Rand?

I think they'll probably go the route of guest cameos in each others show. I'm pretty sure Cage will appear in Iron Fist this season, and or they'll make an announcement at Comicon if they're going to make another series like Defenders.

I would actually love it if they just threw like $40 million (which was the budget for The Defenders IIRC) at a MCU Power Man & Iron Fist movie (even a straight-to-Netflix type deal), instead of another team-up series.

I like their dynamic, and thought the way they wrote Danny in his guest appearance was an improvement to what we've seen previously. And it's also very clear that Finn Jones and the stunt guys have worked a lot to improve Danny's fight scenes. The difference between how he looked in IF s1 and his guest appearance on LC s2 is very apparent. Which is cool, because it shows that he's stayed determined and passionate, despite all the backlash he has gotten in the role so far.

But they don't need a whole series/mini-series together. Just a solid, tight 2-hour story. And they can keep it to the streets, so won't need an enormous budget. Doing 2 hours instead of 8 (like The Defenders, for example) also means less need for filler, so a tighter story, and they don't have to spread the budget they do have as much as they would have to otherwise.