I still can't make sense of why no one will make a wet-wading dedicated boot....There are a few other things out there that are close, but still not basically just a vibram-soled hiking boot that drains.
That's because different materials are necessary. Repeated dunkings would tear apart the materials used in everyday hiking boots. Like real leather just would not last in water use.
I'm not exactly sure what you're looking for, as the requirements for wet wading don't seem to be any different than with waders, to me. Maybe some sizing variations if you don't make a habit of wearing neoprene socks when wet wading. But there are plenty of choices, generally ranging from very "boot-like" to more "shoe-like", in any sole you want.
Most wading boots do lean towards more "boot-like", but there are some with better flexibility that are more shoe-like. I suspect that's what you're looking for. So:
Chota Caney Fork, for instance, still looks like a boot but is lighter and more flexible than their more boot-like STL's. They market it as a "wade and portage" shoe.
The Korkers HyJack are marketed as wet wading shoes, with the interchangable sole system. Their Torrents look decent too.
The Simms Rip-Rap might be what you're looking for. Or their mariner shoe, which I think is more designed for drift boat types.
The Columbia Drainmaker fits the description too, though might not have the type of grip on streambeds, but be more geared towards boating and flats type stuff.
Orvis had one, I think they actually called it the "Orvis Wet Wading Shoe". I think they've discontinued it.
I think Keen makes some drainable hikers as well. Look up the McKenzie Shoe. It's kind of a cross between a sandle and a hiking boot.
Teva makes things along this line as well.
If these are barking up the wrong tree, what exactly are you looking for?
