It would be more expensive and not of much use. Standardized collections of strands (tendons) are typically smaller in diameter than rebar, which nullifies the increased yield strength. Furthermore, tendons are not ribbed and will therefore not bond as effectively to concrete as ribbed rebar: longer development and lap length would be required, and the typical equations (based on assumption of ribbed rebar) would not apply.
The ultimate strain of strands is also much lower than ultimate strain of ordinary ribbed rebar, which leads to reduced ductility.
The answer is something along the lines of "sure, you can, but it is not useful", and you can observe this by looking at what reinforcement type the "high-performance" reinforced concrete industries (high-rise buildings, nuclear power plants, containment buildings, long-span bridges, defense applications etc.) use when prestressing is not applied.