I don't believe a Fedora LTS will ever fly, because it has too much overlap with RHEL/Centos+EPEL, which means the ROI of such an endeavour is likely too small to attract enough contributors.
However, people could easily make the need for a "Fedora LTS" less by pursuing two efforts:
contribute to EPEL, so the feature gap between Fedora and RHEL/Centos gets smaller
contribute to Fedora stabilization and in-place transparent update efforts, so the "danger" (real or perceived) or arriving at the end of a Fedora cycle diminishes
Both those efforts do not require the huge endeavour of creating yet another major distribution, just to contribute a little more to existing efforts.
Remember, both Fedora and EPEL are open community projects, their lack of features/lack of stability can always be fixed from within.
Of course that's less grand that announcing a new Foo LTS project, but I strongly suggest to forget this idea if you've not a billionaire with some pocket money invest in the idea.