I think there is a basic difference between what BIAB is best at and producing note perfect cover versions of particular songs.

I often create basic backing racks in BIAB and when I need particular riffs I transfer to PoweTracks and play them in from a midi keyboard. For example we play live a version of Wilson Pickett's Midnight Hour. BIAB created the basic track and I added a horn section the way I wanted it in BIAB, but the bass line was not the same distinctive but simple riff on the record. So I played it in on the midi keyboard in PowerTracks.

I'm a guitarist so I can easily see why a midi guitar would allow me to play in exactly what I wanted to a DAW. (I remember seeing Bert Jansch use one to do musical transcriptions of what he actually played.)

But as for note for note covers, there are karaoke midi tracks for sale or often free internet midi sequences. BIAB is wonderful tool that gives you a backing band but not a group of individual virtuosos playing together like Cream.