I think the reason you can't find any such drill, is because it's just less efficient than cutting the material, and possibly have a much worse lifespan due to clogging of the drill and overheating.

Grinding things will clog up the drill if the dust can't be pushed out of the hole. You're going to have a very hard time pushing the material/dust away with an abrasive tip, due to the nature of abrasives.